SkinBioTherapeutics grows with £1.25 million deal

A life sciences firm says its “transformation plans have well and truly begun” after completing a £1.25 million deal.

SkinBioTherapeutics has bought Bio-Tech Solutions.

Bosses at the Newcastle-based company say the agreement for the liquids, lotions and tablets manufacturer provides “capability to make products and… potential for a future development platform for advanced topical creams and capsules”.

The deal has been funded by a £950,000 loan from shareholder David Brierwood, a fresh shares offer and cash reserves.

It is the second takeover completed by SkinBioTherapeutics – which focuses on skin health –  this year, after it bought footcare product company Dermatonics for an initial £1.68 million in January.

Based in Driffield, North Yorkshire, Bio-Tech Solutions, which employs 23 staff, recorded revenue of £2.1 million and EBITDA of £500,000 in its last financial year to June 30, 2024.  

Stuart Ashman, SkinBioTherapeutics’ chief executive, said: “This is the second acquisition we have made as part of our buy and build strategy to generate immediate and longer-term benefits.

"As with our acquisition of Dermatonics, this deal brings in revenues, positive EBITDA and cash.

“This is another building block to the solid scientific and financial foundations of the group.

"I'd like to thank David Brierwood for his help in completing this deal.”  

Ian Moulds, Bio-Tech Solutions’ founder, added: “Building up the business has been a life's work.

“As I reach retirement, I'm very happy to be handing it over to the SkinBioTherapeutics team; the business and its team are passing into good hands."

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