Sartorius Acquires a Majority Stake in Cell Culture Media Specialist Biological Industries
Sartorius, a leading international partner of life science research and the biopharmaceutical industry, signed an agreement to acquire a majority stake in the Israeli cell culture media developer and manufacturer Biological Industries. For approximately €45 million in cash, Sartorius is acquiring just over 50% of the shares of the company from its owners, Kibbutz Beit Haemek and private equity fund Fortissimo Capital. An option to acquire a further 20% of the shares within three years was also agreed. The transaction is subject to customary closing conditions and expected to be finalized by mid-December.
“By acquiring a majority stake in Biological Industries, we are significantly expanding our cell culture media offering and complementing our product portfolio for customers in the dynamically growing advanced therapies market,” commented Joachim Kreuzburg, CEO of the Sartorius Group.
Biological Industries focuses on cell culture media, particularly for cell and gene therapy, regenerative medicine and other advanced therapies. Founded in 1981, the company currently employs approximately 130 people mainly at its headquarters, R&D and manufacturing site close to Haifa, Israel, and at sales locations in the USA, Europe and China. Biological Industries has recorded significant revenue growth and expects to achieve sales of approximately €25 million with a double-digit operating EBITDA margin in the current year.
Cell culture media are used in research, clinical development and production of biopharmaceuticals as well as in cell and tissue therapy applications. The company offers complete media solutions including a strong portfolio of clinical-grade media for cultivating cells and stem cells and for cryopreservation, applications that are both particularly relevant in advanced therapy research and clinical development. In addition, Biological Industries provides cell culture reagents as well as classical and serum-free media.
A profile of Sartorius
The Sartorius Group is a leading international partner of life science research and the biopharmaceutical industry. With innovative laboratory instruments and consumables, the Group’s Lab Products & Services Division concentrates on serving the needs of laboratories performing research and quality control at pharma and biopharma companies and those of academic research institutes. The Bioprocess Solutions Division with its broad product portfolio focusing on single-use solutions helps customers to manufacture biotech medications and vaccines safely and efficiently. The Group has a track record of double digit growth rates and has been regularly expanding its portfolio by acquisitions of complementary technologies. In fiscal 2018, Sartorius earned sales revenue of around 1.57 billion euros. Currently, more than 8,800 people work at the Group’s approximately 60 manufacturing and sales sites, serving customers around the globe.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Milliken & Company Finalizes Acquisition of Borchers28.1.2020 19:00:00 CET | Press release
Milliken & Company (“Milliken”), a global diversified manufacturer with more than a century and a half of materials science expertise, has formally acquired Borchers Group Limited (“Borchers”), a global specialty chemicals company known for its innovative high-performance coating additives and specialty catalyst solutions from The Jordan Company, L.P. (“TJC”). The transaction officially closed on Tuesday, January 28, 2020. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200128005647/en/ “When great teams come together, big things happen,” stated Halsey Cook, Milliken & Company president and CEO on closing the deal. “I’m excited to combine Borchers’ capabilities with Milliken’s long-term view and focus on innovation and sustainability.” “Borchers brings expertise, products and customer knowledge in the paint and coatings industry,” commented Russ Rudolph, senior vice president, Milliken’s Coating Additives Business. “Combined
Andersen Global Announces Collaboration with Lipa Meir & Co.28.1.2020 14:30:00 CET | Press release
Andersen Global entered into a collaboration with Lipa Meir & Co., one of the most established and reputable law firms in Israel, adding dimension to the organization’s existing presence in the Middle East. Led by Office Managing Partner Alon Pomeranc, Lipa Meir & Co., founded in 1987, is comprised of more than 80 legal professionals that specialize in a variety of legal services including corporate law, M&A, litigation & dispute resolution, antitrust & competition, banking & finance, energy & infrastructure, capital markets & securities, project finance, cleantech & clean energy, healthcare & life sciences, high-tech & technology, and real estate. The firm has also been consistently recognized by global legal directories, including Chambers and Partners, Legal 500, IFLR1000 and WTR. “Lipa Meir & Co. is committed to and routinely delivers legal services of the highest caliber, and we constantly strive to expand our service offerings,” Alon said. “Our goal is to act as a one-stop shop f
Adecco, World’s Largest HR Staffing Firm, Selects beqom to Advance Pay Processes28.1.2020 14:05:00 CET | Press release
beqom, a cloud-based compensation management software provider, today announced that The Adecco Group, the world's largest human resources provider and temporary staffing firm and a Fortune Global 500 company, has selected beqom’s solution to manage its salary review and bonus compensation processes, integrating directly with Adecco's existing HRIS landscape. “After surveying the market, we found that beqom was clearly the best solution to automate our total remuneration processes,” says Audrey Vissac, Director of Compensation and Benefits at The Adecco Group, France. “We are convinced that beqom will enable us to stay true to our vision that people should be inspired, motivated, and developed to embrace the future of work, starting with our own employees.” beqom initially will be deployed for 9,000 employees in France. With more than 5,200 branches in more than 60 countries and territories around the world, The Adecco Group offers a wide variety of services that include temporary staf
B2Broker Secures its Position as a PoP Liquidity Provider with Devexperts dxTrade28.1.2020 10:13:00 CET | Press release
B2Broker, a leading liquidity and technology provider of solutions to the Forex and crypto industry, has signed an agreement with Devexperts, a financial software developer, to license their dxTrade platform. dxTrade is a multi-asset trading solution for brokers which, unlike other existing OTC trading platforms, supports the entire spectrum of assets. This feature will allow B2Broker to become the leading Prime of Prime liquidity provider in the industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200128005354/en/ B2Broker Secures its Position as a PoP Liquidity Provider with Devexperts dxTrade (Photo: Business Wire) B2Broker’s pool of trading platforms currently includes OneZero Hub, PrimeXM xCore, several MT4 and MT5 trading platforms, together with B2Trader (the company’s own Matching Engine platform). With the addition of dxTrade, clients will be able to gain quick and easy access to one of the deepest liquidity poo
ADVA to play key role in OPENQKD project pioneering market-ready quantum-safe communications28.1.2020 08:00:00 CET | Press release
ADVA (FSE: ADV) today announced that its FSP 3000 and FSP 150 platforms will play a pivotal role in the OPENQKD project. Leveraging its ConnectGuard™ technology, ADVA will provide optical and Ethernet encryptors as well as open line systems for multiple testbed locations. Funded by the European Commission, OPENQKD will create and trial a secure communication network across Europe based on quantum key distribution (QKD). The aim of the initiative is to accelerate the commercial adoption of QKD technology and to promote interoperability through an ecosystem of 38 partners, including academic institutions, network operators, and manufacturers of network and QKD equipment. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200128005034/en/ ADVA's ConnectGuard™ technology is at the forefront of the OPENQKD project (Photo: Business Wire) “By bringing our technology and expertise to the OPENQKD project, we’re helping to address vital s
Lung Cancer Study Shows Barriers in Patient Access to Care in Europe28.1.2020 07:00:00 CET | Press release
MSD, tradename of Merck & Co., Inc., Kenilworth, N.J., USA (NYSE: MRK), today presents preliminary results from a study carried out by The Economist Intelligence Unit (The EIU) on lung cancer, which show a fragmented policy approach across Europe. The study underlines that awareness needs to be addressed on multiple fronts to fight the stigma associated with this disease and to ensure patients receive timely access to the best possible care. The data were presented days before the European Commission’s official launch of the stakeholders’ consultation on Europe’s Beating Cancer Plan. “There is no room for complacency in lung cancer; 1 out of 5 of all cancer deaths in Europe is caused by lung cancer and it kills as many Europeans as breast, colon and prostate cancer combined. The study uncovers actionable solutions to empower countries and their health systems to better manage lung cancer, and ultimately, improve the lives of people living with a diagnosis of this treatable disease,” co