Global analytical science and device company Trajan Group Holdings Limited (ASX: TRJ) (Trajan or the Company) has completed the acquisition of Axel Semrau GmbH & Co. KG and Semrau Immobilien GmbH & Co. KG, the private business and properties of “Axel Semrau” based in Sprockhövel, Germany for €14.75 million and €2.25 million respectively. Adjustments, including accumulated undistributed profits total €2.85 million in favour of the sellers, to be paid by Trajan following Closing. Trajan is funding its current acquisition activities through a combination of cash and debt.
Axel Semrau employs just over 50 staff in Europe and develops and manufactures laboratory automation and chromatography software and detection systems. The company reported FY 21 (year ended Sept ’21) revenues of €14.9 million, and EBITDA of €1.46 million (normalized EBITDA of €1.67 million), unaudited.
Stephen Tomisich, Chief Executive Officer and Managing Director, Trajan stated, “We welcome the Axel Semrau team to the Trajan group. Trajan’s automation business and Axel Semrau have worked in close cooperation for several years and so we enter this new stage with a working relationship already well established. Axel Semrau owns and develops the CHRONOS intelligent sequencing software platform upon which Trajan’s automated workflows are built. We intend to further invest in CHRONOS in line with Trajan’s goal to simplify and automate complex analytical workflows.”
“Further, Axel Semrau’s automation business is highly synergistic with our own; both in terms of application areas and geographical coverage. Axel Semrau’s presence in chromatography and portable/on line gas detection also align with Trajan’s general direction.”
The two Managing Directors at Axel Semrau, Frank Sasse and Andreas Bruchmann and all other employees will continue in their current roles as part of the Trajan group. Dr Bruchmann commented “We welcome the opportunity to become part of the Trajan team. We have known Trajan for some time and find that our goals and values are aligned. We also see the intention of ongoing investment to drive growth in our business and capabilities.”