MedCap AB's subsidiary Abilia acquires Toby Churchill Ltd., based in Cambridge, England. Toby Churchill Ltd owns and distributes the most established communication aid in the world, Light Writer ™. The company was founded in 1973 by Toby Churchill who took out the first product after having suffered an accident and lost his ability to speak.
Toby Churchill is since the founding operating with its own sales organization in the UK. In the U.S., the company is operating since summer 2012. In addition, they sell through distributors across large parts of the western world. Abilia Toby distributes Churchill's products in Scandinavia since the late 1980's and Abilia was the first distributor who was signed to sell the main product Light Writer ™. Sales of Light Writer represent approximately 8% of Abilias sales and is by far the largest distributed product Abilias range.
"In addition to an internationally established product, we get a basis for focused export of our own range. Britain is a great potential for our products. Furthermore, we get an opportunity to closely evaluate the ability to market our products in the U.S.. " says Lars–Åke Berglund, CEO of Abilia Group.
Toby Churchill turnover approximately 3.5 million pounds last 12 months and has 26 employees in the UK and nine employees in the U.S.. During the past 12 months, Toby Churchill invested significant amounts in setting up its own sales organization in the United States and thus had a loss of about 0.5 million pounds. Abilia pay 1.025 million pounds at closing and an additional 0.825 million pounds over the next three years in the form of a promissory note.
For more information, contact:
Karl Tobieson, Executive Director,
Phone +46 8 34 71 10, mobile +46 709 35 85 74;