Tech News Summary:
- BICO has announced the sale of Ginolis through a management buyout to Kauko Väinämö, resulting in a divestment loss of SEK 25 million.
- Intellectual property rights and the Ginolis House are excluded from the deal, with BICO retaining entitlement to 70% of the net proceeds if Ginolis is sold within three years.
- The divestiture is a strategic move by BICO in response to Ginolis’ failure to adapt to post-pandemic challenges, allowing both companies to refocus on growth opportunities.
In a bold and strategic move, BICO, a leading provider of advanced automation solutions, has announced a management buy-out of its subsidiary, Ginolis. The move signals a new era for the company as it looks to take its business to new heights.
Under the deal, the management team at Ginolis will acquire full ownership of the company, backed by an investment from BICO. This move will allow Ginolis to operate as an independent entity, while still benefiting from the resources and expertise of its parent company.
Ginolis specializes in providing cutting-edge automation and liquid handling solutions for the medical device and diagnostics industry. The company’s innovative technologies have gained recognition for their precision, reliability, and efficiency, making them a preferred choice among leading manufacturers.
With the management buy-out, Ginolis will have the flexibility to pursue new opportunities, expand its product portfolio, and strengthen its position in the global market. This move reflects BICO’s commitment to supporting the growth and development of its subsidiaries, while also enabling them to thrive in their specific niche markets.
Commenting on the news, the CEO of BICO expressed confidence in Ginolis’ potential for success as an independent entity. He highlighted the company’s track record of innovation, dedication to quality, and strong customer relationships as key factors that will drive its growth and profitability in the future.
The management team at Ginolis also shared their excitement about the new chapter ahead, emphasizing their commitment to building on the company’s success and leading it towards new opportunities and achievements.
As BICO’s bold move paves the way for a new era for Ginolis, industry insiders are closely watching to see how the company will capitalize on this opportunity and continue to make its mark in the automation and liquid handling sector.