On March 28, Universal Matter UK Limited acquired all shares of Applied Graphene Materials UK Limited and Applied Graphene Materials LLC for $1.3 million.
Applied Graphene Materials UK Limited and Applied Graphene Materials LLC are the main operating subsidiaries of Applied Graphene Materials plc (AGM). The sale and purchase agreements relating to the transaction were signed on Feb. 21, and UK NSI Act approval was received on March 24.
Universal Matter Inc. (UMI) is a privately held Canadian corporation and wholly owned subsidiary of Universal Matter Inc.
“The acquisition of AGM fits exceptionally well with UMI’s growth strategy by significantly enhancing our dispersion and application capabilities for advanced paints and coatings. Moreover, it will provide UMI with an important European footprint for strengthening our growth potential,” said John van Leeuwen, CEO, Universal Matter.
The companies say that the combined capabilities enabled by this acquisition will make use of UMI’s proprietary graphene capabilities and AGM’s dispersion platform technologies.