The £7.7 million acquisition of the Southend-based surgical instrument manufacturer strengthens Stille’s position in the UK market.
Swedish surgical and medical instrument manufacturing company Stille has acquired Southend-based surgical instrument manufacturer Surgical Holdings for £7.7 million on a cash and debt-free basis.
Founded in 1988 by Philip Coole, inspired by his father Fred Coole’s passion for finely crafted surgical instruments, Surgical Holdings remains a family-run business, with Philip as chairman and his son Daniel as managing director.
The company has established a strong market position in the UK and select international markets through close partnerships with the NHS and by providing high-quality products and services. Its offering includes instruments for general surgery and orthopaedics, as well as specialised repair service for surgical instruments, rigid endoscopes and orthopaedic power tools.
For the financial year ending April this year, Surgical Holdings reported sales of £6.4 million and adjusted EBITDA of around £1 million.
The acquisition will broaden Stille’s offering and significantly strengthen its position in the UK – one of the largest markets for surgical instruments in the world. The firm also said that the transaction brings complementary capabilities, including a direct sales team covering the entire UK, supported by a specialised repair and service organisation that will support future growth for the entire Stille Group.
“This acquisition further strengthens our position as a premium supplier of surgical instruments and enhances our access to one of the most important markets for surgical instruments in the world. Surgical Holdings’ strong capabilities and product range are highly complementary to our own, and we see significant commercial and operational synergies from adding a direct sales and service organisation in the UK,” said Ulrik Berthelsen, chief executive of Stille.
