Sunflower Medical sold to Indutrade

Swedish engineering group Indutrade (STO: INDT) has moved into the UK healthcare manufacturing sector after acquiring Sunflower Medical through its subsidiary ESI Process (UK) Limited. Initium advised the shareholders of Sunflower Medical throughout the transaction.

Leading specialist equipment manufacturer Sunflower Medical is a major supplier to NHS hospitals, doctors’ surgeries and clinics. Founded in Bradford in 2003 by three entrepreneurs, the firm also exports to the Middle East, Africa and Asia. Sunflower Medical offers a wide range of clinical solutions, including treatment chairs and couches, hospital furniture, trolleys and theatre equipment.

Stockholm-listed Indutrade has acquired more than 200 companies in its 40+ year history, but this transaction was Indutrade’s first acquisition in the UK medical products market.

Deal insights

ESI CEO Morgan O’Brien said: “Sunflower Medical is a fast-growing and well-managed company, and so will fit in with our portfolio very well. We’re excited to have made our debut acquisition in healthcare, and we will be helping the management team develop its international footprint in the near future.”

Sunflower Managing Director Marc Byrnes added: “We have enjoyed growing the business to this stage, but with the international business really picking up now, we are keen to join a larger group with a significant overseas presence to help us scale up quickly. All the staff and my fellow directors are looking forward to the next chapter in our journey.”

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