Forvis Mazars M&A team is delighted to have acted as lead corporate finance adviser to Hugo Technology

Forvis Mazars Mergers & acquisitions (M&A) team is delighted to have acted as lead corporate finance adviser to Hugo Technology on its sale to Asker Healthcare Group.

Hugo Technology is based in the Midlands and provides technical services including maintenance and repair to global medical device Original Equipment Manufacturers (“OEMs”). Asker Healthcare Group is a partner to caregivers across Europe, providing medical supplies, devices and equipment. This acquisition marks the first add-on acquisition of the Group’s subsidiary, CRS Medical GmbH, as well as its entry into the UK market.

“We are pleased to welcome Hugo Technology and their competent team to the group. They have over the past 25 years built a strong reputation amongst quality OEMs and in the UK market. With this add-on acquisition to CRS medical we further strengthen the position within the growing area of technical services, and we see many possibilities for the two companies to benefit from each other to support the customers even better”, says Johan Falk, CEO of Asker Healthcare Group.

Paul Turner, a Director in the Forvis Mazars M&A team, said: "We were thrilled to advise the shareholders of Hugo Technology on this transaction. Hugo Technology has grown to be a leader in its field and is a trusted partner to some of the world’s leading medical device OEMs. The transaction is a great success for the shareholders and reflects the strength of the business that they have built. We identified Asker Healthcare as an ideal partner for Hugo Technology and we believe both parties will complement each other’s respective growth strategy. The transaction further demonstrates the strength of Forvis Mazars’ international reach.”

The shareholder group of Hugo Technology said: "We would like to express our appreciation of the professional service provided by the team at Forvis Mazars. The team has understood our requirements throughout the whole process and provided support and guidance when needed. Having the same team work with us from start to finish has ensured the transaction ran smoothly and has given us reassurance at all times. We would not hesitate to recommend Forvis Mazars to anyone embarking on a similar transaction."