Energist plots international expansion following Chromogenex acquisition
Energist Medical Group is planning global growth following its acquisition of part of Chromogenex Technologies from its administrators.
Energist has acquired global rights outside the USA to the Chromogenex name and its i-Lipo laser fat-reduction brand and products.
Llanelli manufacturer Chromogenex, which made laser and light-based systems for aesthetic clinics and salons, was placed into administration in December 2015 after recording significant losses.
Swansea-based Energist manufactures a range of laser, plasma and light-based products for hair removal and skin rejuvenation.
Energist group chief executive Max Humber said:“Strategically, this deal is perfect for Energist. The products we’ve acquired from the administrator are predominantly used for the non-invasive reduction of fat so they’re a perfect compliment to our existing product portfolio.
“By securing the R&D and IP rights to well-established systems like i-Lipo, we’ll be able to fully exploit the surge in demand for laser-based procedures around the globe, especially in countries that are only just starting to embrace aesthetic treatments.”
The deal has been backed by private equity companies WestBridge Capital and Beaubridge, which jointly funded a secondary buy out of Energist in 2012.
Energist’s turnover is expected to grow significantly as a result of the acquisition and is projected to exceed £4 million for 2016. The company currently has over 8,000 systems in use in 70 countries.