Phadia acquires MIAB

Silverfleet Capital, a mid-market private equity specialist, announces that Phadia, a global market leader in in-vitro allergy diagnostics and a Silverfleet portfolio company, has acquired MIAB, a leading supplier of specialist allergens. The acquisition was financed through a mixture of additional debt and cash resources of Phadia.

MIAB, based in Uppsala, Sweden, is currently the exclusive supplier to Phadia of a wide range of rare and special allergens, which are marketed and sold as part of Phadia’s product offer for diagnosis of different allergies.

Phadia (formerly called Pharmacia Diagnostics), is also based in Uppsala and specialises in the development, manufacture and marketing of complete blood systems to support the clinical diagnosis and monitoring of allergy and auto-immune diseases. Phadia’s products are sold under the ImmunoCAP brand and it currently supplies more than 3,000 laboratories in 60 countries.

Commenting on the investment, Magnus Lundberg, Chief Executive of Phadia, said:

“The acquisition of MIAB demonstrates Phadia’s commitment to excellence in the field of allergy diagnostics and secures for us an unparalleled range of special allergens to offer our customers.”

Gareth Whiley, a Partner of Silverfleet, commented:

“The acquisition of MIAB by Phadia is indicative of Silverfleet's continued strategy of backing businesses with potential to grow both organically and through acquisition. We have been delighted by the performance of Phadia’s underlying business to date and are confident that this acquisition will add value to Phadia’s customers as well as to our investment.”

Silverfleet has recently demonstrated the continuing success of its Buy and Build strategies with the highly profitable exits of companies such as Barracuda Group and The Astron Group, both of which grew substantially through acquisitions under Silverfleet's ownership.