Eurofins to Acquire the CDMO Amatsigroup for $150 Million
Eurofins Scientific, a biopharmaceutical analytical testing firm, has signed an exclusive agreement with Ekkio Capital, a private-equity firm, to acquire Amatsigroup, a contract development and manufacturing organization providing preclinical and clinical phase services for the development of human and veterinary drugs, for approximately EUR 130 million ($149 million) plus some residual debt at closing.
Founded in 2010 by Ekkio Capital, Amatsigroup was formed through the merger of four French companies (Avogadro, Amatsi, DBI, and Avepharm) and began to expand internationally with the acquisition of its subsidiaries SEPS Pharma in Belgium and Amatsigroup Inc. in the US. Its expansion continued in 2015 with the acquisition of Pierre Fabre’s pharmaceutical analysis laboratory in Saint-Augustin, France. In 2016, the group expanded its activity through the acquisition of QBiologicals, a Belgian company specializing in bioprocess development and biomanufacturing. In early 2017, Amatsigroup strengthened its sterile capacities with the acquisition of Disposable Lab. More recently, it signed an exclusive agreement to acquire two sites in France from Bertin Pharma, which has expertise in galenic formulation and development; this acquisition is expected to be closed during this summer. Amatsigroup has eight sites in France (including the pending sites to be acquired from Bertin Pharma), two sites in Belgium, and one site in the US.
Eurofins’ acquisition of Amatsigroup is expected to close later this year. The is the second recent acquisition by Eurofins. Earlier this year in June 2017, it acquired Alphora Research, a contract research, development, and manufacturing organization for small-molecule active pharmaceutical ingredients, based in Mississauga, Ontario, Canada.