Sartorius Closes USD 320m Acquisition of Real-Time Live-Cell Analysis Specialist Essen BioScience.
M2 EQUITYBITES-April 5, 2017-Sartorius Closes USD 320m Acquisition of Real-Time Live-Cell Analysis Specialist Essen BioScience
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5 April 2017 - German biopharmaceutical industry and laboratories equipment provider Sartorius (FWB: SRT) has closed the acquisition of US based cell-based assays and instrumentation provider Essen BioScience Inc., the company said.
Essen BioScience's assays and instrumentation used for drug discovery and basic research applications, from SFW Capital Partners, a specialised private equity firm that invests in mid-sized businesses providing analytical tools and related services.
Sartorius purchased Essen BioScience for USD 320m in cash.
Essen expects to generate sales revenues of approximately USD 60m in 2017 with continued strong levels of operating profitability.
Headquartered in Ann Arbor, Michigan, USA, and with sales entities in the UK and Japan, the company currently employs approximately 150 people.
Through this acquisition, Sartorius will significantly expand its portfolio for bioanalytics, a field the company has recently entered via the IntelliCyt acquisition in 2016.
The Sartorius Group is a international pharmaceutical and laboratory equipment provider.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Apr 5, 2017|
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