Global analytical science and device company Trajan Group announces IPO and $50M capital injection to fuel next phase of growth

Global analytical science and device company Trajan Group announces IPO and $50M capital injection to fuel next phase of growth

May 17, 2021

Highlights

  • Trajan Group Holdings Limited has launched a $90 million Initial Public Offering (IPO) with expectations to list on the Australian Securities Exchange (ASX) in early June 2021.
  • Melbourne-headquartered global developer and manufacturer of analytical science instruments, devices and solutions used in the analysis of biological, food and environmental samples.
  • Global business with operations in the US, Europe, and Asia, employing 450 staff.
  • Customers include the world’s largest life science, biopharma, and analytical companies.
  • Profitable business with expected FY21 revenues of $75M.
  • The business has been entirely self-funded since inception in 2011 and has delivered significant year-on-year growth.
  • Offering 52.9 million shares at $1.70 per share with post raise market capitalisation of $220 million.
  • Funds to support accelerated growth plans.
  • Canaccord Genuity (Australia) and Ord Minnett Joint Lead Managers.
  • Current founding shareholder to retain a majority interest.

Melbourne, Australia, 17th May 2021 – Global analytical science and device company Trajan Group Holdings Limited (Trajan or the Company) has launched a $90 million IPO to support the next phase of accelerated growth.

Trajan was founded in 2011 with the determination to build a scientific business that could deliver genuine impact and benefit people. Today, Trajan is a global success story with operations in Europe, US, and Asia, with four dedicated precision manufacturing facilities in Australia, Malaysia, and US, and a workforce of more than 450.

The Company is a global developer and manufacturer of analytical science instruments, devices, and solutions used in biological, food and environmental analysis. These areas of application reflect the company’s strategy to impact human wellbeing. This is enabled by the delivery of precision products that protect the sample integrity and minimise result variation, leading to more informed decisions and treatments.

Trajan’s products are used across the analytical workflow and have broad life science applications including pharmaceutical, clinical diagnostics and pathology. The Company’s long-term customers and partners are global blue-chip companies including OEMs (Original Equipment Manufacturers), pharmaceutical companies and Contract Research Organisations.

Trajan has experienced significant growth and is expected to achieve revenue of $75m in FY21, 90% of which is generated through export markets.

Trajan is entering its next phase of growth with a deep technology commercialisation pipeline and globally identified acquisition targets, providing significant upside potential to the strong underlying existing consumable and components business. The company has a strong acquisition record having completed six complementary acquisitions which have all been self-funded through continued high financial performance. A seventh acquisition, MyHealthTest was completed on 5th May.


Independent Non-Executive Chairman John Eales and Founder and Chief Executive Officer Stephen Tomisich

Trajan is led by founder and Chief Executive Officer Mr. Stephen Tomisich and Independent Non-Executive Chairman, Mr. John Eales.

Mr. Tomisich said. “We started our journey to make a difference, and this led to a strategy to develop products and services that deliver improvement in the analytical workflow.

“We deliver and have in development a deep portfolio of innovative technologies and devices which can support the trend towards decentralised, personalised, data‑based healthcare. It’s an exciting time in our history where listing on the ASX will allow us to accelerate our global growth.”

Mr. Eales, Trajan Chairman added: “Trajan presents a unique opportunity for investors as an Australian-headquartered, global participant in the multi-billion-dollar analytical science instrument and device industry. The Company’s customers include some of the world’s largest life science, biopharma, and analytical companies.

“The analytical science sector is a highly specialised area with significant barriers to entry due to the extreme precision demanded of the products and componentry. The sector also has significant regulatory requirements. It is a strategically important industry due to the critical role of end‑use analysis in ensuring the health and safety of society.”

IPO details

Trajan is offering 52.9 million shares at $1.70 per Share (the “Offer”).  The Offer comprises a Broker Firm Offer, a Priority Offer, an Employee Gift Offer, and an Institutional Offer.  No general public offer of shares will be made under the Offer.

The proceeds raised via the Offer will predominantly be used to execute Trajan’s growth strategy, which encompasses both strategic acquisitions of complementary businesses, technologies and processes, and continued investment in Trajan’s proprietary technology and device portfolio.

The Offer is being made under a prospectus lodged with ASIC on Friday 7th May, 2021 and is available at https://investor.trajanscimed.com/. Offers will be made in, or accompanied by, a copy of the Prospectus. A person should consider the Prospectus in deciding whether to acquire shares. Anyone who wants to acquire shares will need to complete the application form that will be in or will accompany the Prospectus.

The Offer (excluding the Employee Gift Offer, under which no proceeds will be raised) has been fully underwritten by the Joint Lead Managers, Canaccord Genuity (Australia) Limited and Ord Minnett Limited. EY acted as Trajan’s financial adviser and DLA Piper provided legal advisory services.

END


Important notice:

Offers of shares in the Company will be made in, or accompanied by, a copy of the Prospectus issued by Trajan Group Holdings Limited and Trajan SaleCo Limited which is available as described above. Investors should consider the Prospectus in deciding whether to apply for shares. No general public offer of shares will be made under the Offer. Members of the public who wish to apply for shares must do so through a broker with a firm allocation of shares under the broker firm offer. See Section 7 of the Prospectus for details in relation to the Offer.

This communication does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States. The shares referred to herein have not been, and will not be, registered under the U.S. Securities Act or the securities laws of any State of the United States, and may not be offered or sold, directly or indirectly, in the United States, or to or for the account or benefit of, a U.S. Person, except transactions exempt from or not subject to the registration requirements of the U.S. Securities Act and any other applicable U.S. securities laws. The Offer is not being extended to any investor outside Australia, other than to certain Institutional Investors as part of the Institutional Offer. See Section 7.10 of the Prospectus for more detail on selling restrictions that apply to the Offer and sale of shares in jurisdictions outside Australia.


More information

Contact:

Investors:                                                            Media:
Rebecca Wilson                                                   Evonne Grosso, WE Communications
investorrelations@trajanscimed.com                   egrosso@we-worldwide.com
+61 417 382 391                                                  +61 450 603 182 


About

Trajan is an Australian headquartered global developer and manufacturer of analytical and life sciences products and devices founded to have a positive impact on human wellbeing through scientific measurement. These products and solutions are used in the analysis of biological, food, water, and other environmental samples. Trajan has a portfolio and pipeline of new technologies which support the move towards decentralised, personalised data-based healthcare.

Trajan is a global organisation of 450 people, with five manufacturing sites across the US, Australia, and Malaysia, and an operational footprint in operations in Australia, the US, Asia, and Europe.

www.investor.trajanscimed.com




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