HeiQ acquires RAS AG to gain market share and strengthen its technology platform

RAS AG, based in Regensburg, Germany, manufactures antimicrobial, hygiene-enhancing additives and durable antimicrobial coating systems which are sold worldwide under the trademark agpure, as well as transparent electrically conductive and infrared reflective coatings sold under the ECOS trademark. 

HeiQ co-founder and CEO Carlo Centonze, said: "The acquisition of RAS AG adds to our technology portfolio and innovation capabilities. Located practically on campus of one of Germany's leading materials and life science universities, RAS AG is ideally positioned to bring additional innovation capabilities to HeiQ's global R&D network Gaining market share in hygiene solutions by providing antimicrobial surface hygiene technologies to the healthcare sector is one of HeiQ's key strategic goals. RAS AG's resource-efficient and sustainable products, together with its technology platforms and HeiQ's expertise and commercial reach represent an exciting combination to achieve this goal."

Third acquisition

After its IPO in December 2020, HeiQ had already acquired two companies. The takeover of Belgium-based Chrisal N.V. gave HeiQ expanded access to the healthcare sector through probiotic and synbiotic cleaners. In December HeiQ has acquired a majority stake in a leading Spanish mask manufacturer, MasFabEs. The manufacturer has been renamed HeiQ Medica S.L. and manufactures medical devices with HeiQ's cutting-edge textile technologies.

The Acquisition of RAS is for a consideration of €5.1 million, with €1.25 million payable in cash and €3.85 million through the issue of 1,701,821 new ordinary shares by HeiQ. It includes an additional earn out consideration dependent on RAS AG's growth and 2021 calendar year EBIT. The earn out consideration is capped at an additional €5 million in shares. It is expected that Admission will become effective, and that dealings in the new Ordinary Shares are expected to commence, at 08.00a.m. on 5 May 2021.