Eitrium has acquired all shares in Minitech AS and its subsidiary Minitech Sweden AB, a manufacturer of medical heating products intended for medical purposes as well as outdoor activities. The sellers will continue to operate Minitech AS and Minitech Sweden AB to ensure the continuation of its way of doing business.

The Hamar-based company develops and manufactures medical heating products for institutions and orthopedic clinics within the public as well as the private sector, primarily in Norway but also in other Nordic countries. The products consist of heat-regulating clothing items and are certified in accordance with the Medical Device Directive. The sellers have with great success developed a market-leading company and generated sales of NOK 27 million and EBITDA of NOK 7 million in 2021.

“Minitech is a well-managed group in a stable market with very few competitors that is driven by the need for heating aid. The company is very well run and the owners, together with the employees, have made a fantastic journey. We are taking over a business in extremely good condition, and we intend to continue on the already established path. I look forward to Minitechs continued development with Eitrium as owner” says Per Brugge, CEO of Eitrium.

“We had several other interested parties who wanted to acquire the company, but we have gained a lot of trust in Eitrium and we also see a great potential to, with the help of a new owner, grow our company in other untapped segments of the market.” says Kjetil Aasbakken, CEO of Minitech AS.

Synergos acted as the exclusive advisor to Minitech AS on the 100% sale to Eitrium.