BICO completes divestment of Nanoscribe to LAB14 GmbH
Nanoscribe primarily serves markets outside of life sciences - making it non-core under the BICO 2.0 strategy
BICO Group AB, a leader in bio convergence solutions, has completed the divestment of Nanoscribe, a micro-scale 3D printing technology developer, to LAB14 GmbH. This move aligns with the company’s updated strategy, BICO 2.0, which focuses on strengthening its core life science operations. The transaction, first announced on November 21, 2024, was finalized at an equity value of EUR 26 million (SEK 294 million), following net debt and working capital adjustments.
The divestment of Nanoscribe underscores BICO’s commitment to streamlining its portfolio and concentrating resources on its life science operations. Nanoscribe primarily serves markets outside of life sciences – making it non-core under the BICO 2.0 strategy.
“The divestment of Nanoscribe is a major step in delivering on our updated strategy which was launched during our Capital Markets Day in September. Nanoscribe is a profitable and stable business; however, it has its largest potential and customer base outside life science and therefore concluded as non-core for BICO going forward”, said Maria Forss, President and CEO of BICO Group AB.
The divestment is estimated to generate a capital gain of approximately 10% based on the book value as of Q3 2024. Final figures will depend on the timing of the transaction closure and any foreign exchange fluctuations, with the complete financial impact to be detailed in BICO’s Q4 2024 interim report.
Net proceeds from the transaction will be utilized to reduce long-term debt. Nanoscribe’s operations will be classified as discontinued in BICO’s financial reporting starting Q4 2024.
As of September 2024, Nanoscribe reported revenue of SEK 230 million over the last twelve months, with an adjusted EBITDA margin of 12%, based on IFRS standards.
