Avantor To Acquire Masterflex In All-cash Deal Valued At $2.9 Bln - Quick Facts

(RTTNews) - Avantor, Inc. (AVTR) announced Tuesday that it has entered into a definitive agreement to acquire the Masterflex bioprocessing business and related assets of privately-held Antylia Scientific, a portfolio company of investment firms GTCR and Golden Gate Capital.

The all-cash transaction is valued at $2.9 billion, subject to final adjustments at closing. Given anticipated tax benefits from the transaction structure, the net purchase price is approximately $2.7 billion.

Masterflex is a global manufacturer of peristaltic pumps and aseptic single-use fluid transfer technologies with estimated 2022 revenues of approximately $300 million.

The acquisition strengthens Avantor's offering across all bioproduction platforms including monoclonal antibodies (mAbs), cell and gene therapy and mRNA, and supports both therapy and vaccine manufacturing including COVID-19.

The transaction is expected to enhance Avantor's revenue growth and margin profile and be accretive to Adjusted Earnings per Share in year 1 post-acquisition. Avantor has a full debt financing commitment for the transaction.

The transaction is expected to be completed in the fourth quarter of 2021, and is subject to customary closing conditions, including receipt of applicable regulatory approvals.