Alleima has signed an agreement to acquire Endox Feinwerktechnik GmbH & Endox Polska SP.zo.o. (“Endox”), a Germany-based manufacturer specializing in medical components for endoscopic applications.
Endox partners with medical devices companies to develop, produce and supply nitinol and stainless-steel products and components primarily in the fields of urology, gastroenterology, and endoscopy. The product portfolio includes guidewires, polypectomy snares and stone retrieval baskets. The company will be reported in the Kanthal division.
“In line with our strategy for profitable growth and increased resilience, we are focusing on growing, stable and profitable sectors such as the Medical segment. This will further strengthen our premium position in the Medical segment. I am looking forward to welcome Endox to our Group, says Göran Björkman”, President and CEO of Alleima.
With strengthened and complementary capabilities, the acquisition of Endox enables forward-integration in the value chain of the medical industry. The product offering, certifications, and existing customer base of Endox will increase Alleima’s addressable market. The combined capabilities and footprint will drive new product development and geographical sales expansion, as well as possibilities of joint utilization of production and application capabilities.
“The acquisition will enable us to enhance our medical offering as it will broaden our capabilities and expand our product portfolio in wire-based catheter applications bringing added value to our customers and further strengthening our market position,” says Robert Stål, President of the Kanthal Division.
Endox was founded in 2001, has 90 employees and is headquartered in Dettingen, Germany with an additional manufacturing unit in Bielsko-Biala, Poland. In 2023, Endox had revenues of approximately SEK 65 million, and an EBIT margin slightly positive to Kanthal. The parties have agreed not to disclose the purchase price. Impact on Alleima’s earnings per share will be slightly positive.
The transaction is expected to close in the first quarter of 2025 and is subject to customary approvals.