Investor: Patricia Industries funds strategic add-on acquisition by Sarnova

2021-09-07 08:15:00

Allied 100 will be combined with Sarnova's Cardio Partners business to create a new Sarnova business unit, Sudden Cardiac Arrest solutions, which will be dedicated to providing a comprehensive portfolio of AED products, training and services to the professional and civilian first responder markets.

For the twelve-month period ending June 2021, Allied 100 revenues and adjusted EBITDA were approximately USD 117m and USD 20m, respectively, with mid- single digit organic growth over the past three years.

The total consideration amounts to approximately USD 290m on a cash- and debt-free basis, funded with USD 210m equity from Patricia Industries and the remainder from Sarnova's balance sheet cash and external debt.

" A key priority for us is to grow our great platform companies within Patricia Industries. I am pleased that our companies continue to execute on the strong pipeline of investment opportunities, and we expect to continue to allocate significant capital to add-on acquisitions going forward", comments Investor President and CEO Johan Forssell.

"We are excited to complete another strategic add-on acquisition for Sarnova. The acquisition of Allied 100 adds to Sarnova a highly complementary business with a leadership position within an attractive market benefitting from multiple long-term growth drivers including a growing awareness of the life-saving benefits of AEDs, as the rate of SCA events increases globally", says Christian Cederholm, Head of Patricia Industries. "We look forward to working with Sarnova to further develop the business."


About Patricia Industries

Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owner is the Wallenberg Foundations.

About Sarnova
Sarnova is the leading national specialty distributor of healthcare products in the emergency medical services (EMS) and acute care markets. The company is comprised of business units focused on acute care, emergency preparedness, and sudden cardiac arrest solutions.

About Allied 100
Allied 100 is a leading specialty distributor of automated external defibrillators (AEDs) and related accessories. Allied 100 is comprised of major brands including AED Superstore, Heartsmart, SOS Technologies, CPR Plus and Annuvia. The Company offers a broad array of products and services including AEDs, First Aid Kits, AED Training and AED Program Management.