Universal Matter acquires Applied Graphene Materials main operating businesses
Universal Matter UK (“UM UK”), a wholly owned subsidiary of Universal Matter, has acquired all shares of Applied Graphene Materials UK (“AGM UK”) and Applied Graphene Materials (“AGM US”), the main operating subsidiaries of Applied Graphene Materials on March 28, 2023, for a total consideration of 1.3M USD.
Universal Matter (UMI), a privately held Canadian Corporation, was formed in July 2019. UMI operates its Innovation Centers in Mississauga and Houston; the company has recently acquired an 18,000 square foot building in Burlington for housing its Demonstration Plant. John van Leeuwen, CEO of Universal Matter, noted, “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.”
The combined capabilities enabled by this acquisition will provide an opportunity for accelerating the growth of novel graphene-based solutions by utilising UMI’s proprietary graphene capabilities and AGM’s (UM UK) dispersion platform technologies.
The sale and purchase agreements relating to this transaction were signed on February 21, 2023, and the UK NSI Act approval was received on March 24, 2023. The closure of the acquisition was completed concurrently with the start of the European Coating Show.
