Tristel acquires European medical waste outfit

(Sharecast News) - AIM-listed infection control company Tristel has acquired European medical waste outfit Ecomed Services for a total consideration of €5m.Tristel made the move to acquire Ecomed, its exclusive distributor in Belgium, the Netherlands, Luxembourg and France, after seeing "strong growth" in the firm during recent years.Ecomed recorded sales of €3.07m in its last trading year, €2.54m of which were Tristel products, and recorded an EBITDA of €570,000 in the six months ended 30 June.Tristel anticipates the business will contribute incremental earnings of at least £250,000 after transaction and integration costs in its current financial year.To complete the acquisition, Tristel will pay €3.4m in cash and €1.6m via the issue of 573,860 new ordinary shares of 242.7p per share. An additional deferred consideration of up to €1.8m may be paid if the business' final audited EBITDA for the 2018 calendar year exceeds €840,000.As of 1020 GMT, Tristel shares had moved ahead 3.74% to 236p.