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BICO has entered into an agreement to divest Nanoscribe

MAR

BICO has entered into an agreement to divest Nanoscribe to LAB14 GmbH to an equity value of EUR 26m (SEK 294m). The transaction is expected to close during the fourth quarter 2024.

The rationale behind the divestment is in line with the updated strategy, BICO 2.0, where Nanoscribe has been concluded non-core due to its significant footprint outside life science.

“The divestment of Nanoscribe is a major step in delivering on our updated strategy which was launched during our Capital Markets Day in September. Nanoscribe is a profitable and stable business; however, it has its largest potential and customer base outside life science and therefore concluded as non-core for BICO going forward”, says Maria Forss, President and CEO, BICO Group AB.

Following net debt and working capital adjustments, the equity value amounts to EUR 26m (SEK 294m). Net proceeds, following transaction expenses, will be used to reduce long term debt.

The divestment is estimated to generate a capital gain of approximately 10 percent based on book value per Q3 2024. Final capital gain is subject to timing of closing of the transaction and FX movements. Nanoscribe revenue LTM September 2024 amounted to SEK 230m and the adjusted EBITDA margin to 12 percent according to IFRS. Final financial impact will be reported in the interim report for Q4 2024. In BICO’s financial reporting Nanoscribe will be treated as discontinued operations from Q4 2024.

BICO was advised by Bryan, Garnier & Co and Hengeler Mueller in this transaction.

BICO’s Q3 report 2024 will be released on November 26, 2024.

For further information, please contact:
Jacob Thordenberg, CFO, BICO Group AB
Phone: +46 735 34 88 84
E-mail: jt@bico.com

This information is information that BICO Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-11-21 17:50 CET.

BICO is a lab automation partner and provider of selected workflows to pharma and biotech. With 46,000+ instruments installed in over 65 countries, BICO products, software, and solutions are found in more than 3,500 laboratories, including the world’s top 20 pharmaceutical companies, and have been cited in over 12,000 publications. Operating through three business areas – Lab Automation, Life Science Solutions, and Bioprinting – BICO strives towards the vision to enable and automate the life science lab of the future. BICO is listed on Mid-Cap, Nasdaq Stockholm under BICO. www.bico.com

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BICO has entered into an agreement to divest Nanoscribe

Datum 2024-11-21, kl 17:50
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BICO has entered into an agreement to divest Nanoscribe
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