Polymer-bead technology provider spins off tanning division
03/10/2019
As part of the deal, Qualus’ management team has established a new company called ESTR, which has acquired the physical assets associated with the business, key contracts, and the brand name ‘Qualus’. In return Qualus will pay Xeros a royalty on its income.
Vikrant Pratap, managing director of Qualus, said: “Being part of the Xeros group has allowed Qualus to develop a unique position in the tanning industry, offering sustainability by reducing consumption of precious natural resources. Spinning out Qualus will allow us to accelerate the next stage of development of the company, providing us with the agility and resources for rapidly commercialising the technology across multiple markets in the coming years.”
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