Evotec, a Hamburg, Germany-based drug discovery and development company, has completed the acquisition of Aptuit, a Greenwich, Connecticut-based pharmaceutical services company. Evotec first announced the acquisition in July 2017.

Evotec paid a total of approximately $300 million in cash for the acquisition of Aptuit from Welsh, Carson, Anderson & Stowe, a private-equity firm.

Aptuit offers preclinical testing as well as drug-substance and drug-product manufacturing. Aptuit has manufacturing facilities in Europe (Verona, Italy; Basel, Switzerland; and Oxford, UK). It has approximately 750 employees. It had 2016 revenues of approximately EUR 88 million ($104 million).

Source: Evotec