Sartorius To Acquire BIA Separations for $423 MBy
Sartorius, a provider of products and services for the life sciences, has agreed to acquire BIA Separations, an Ajdovščina, Slovenia-headquartered developer and manufacturer of purification products, for EUR 360 million ($423 million).
BIA Separations develops and manufactures products for the purification and analysis of large biomolecules, such as viruses, plasmids and mRNA, which are used in cell and gene therapies and other advanced therapies. With the acquisition, BIA Separations will be Sartorius’ Center of Excellence for the purification of cell and gene therapeutics
Under the terms of the acquisition, Sartorius will merge BIA Separations into its subgroup, Sartorius Stedim Biotech, in a transaction totaling EUR 360 million ($423 million), of which EUR 240 million ($282 million) will be paid in cash and EUR 120 million ($141 million) in Sartorius Stedim Biotech shares. Both parties have further agreed on three tranches of earn-out payments based on performance over the next five financial years. The transaction, which is subject to customary regulatory conditions, is expected to close in late 2020.
Per the companies, BIA is forecasted to earn sales revenue of approximately EUR 25 million ($30 million) in 2020.
Source: Sartorius and BIA Separations