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Atrium acquires Amisol

04 May 2006 - Atrium Biotechnologies Inc. announced the acquisitionof the assets of Toronto-based Amisol Company Ltd. Amisol has been marketing mainly personal care products since 1974 and has current annual revenues of approximately $10 million.
 
"This acquisition allows Atrium to position itself as one of the leading suppliers in Canada of personal care products. Moreover, this acquisition marks another step in our Active Ingredients & Speciality Chemicals Division's growth strategy aimed at better positioning our subsidiary MultiChem," stated Charles Boulanger, President of Atrium's Active Ingredients & Speciality Chemicals Division.
 
Under the agreement, Atrium acquires through its subsidiary MultiChem, the assets of Amisol for an amount of about $6 million representing approximately six times the adjusted EBITDA generated by Amisol. This amount is paid in cash and comes from Atrium's cash on hand and credit facility. The transaction is immediately accretive.
 
In addition, Atrium will be able to benefit from the expertise and support of Amisol's current management who are staying on to ensure the successful integration and to sustain its growth.