Avantor buys Masterflex bioprocessing biz for $2.9 B

Avantor has entered into a definitive agreement to acquire the Masterflex bioprocessing business and related assets of Antylia Scientific, a privately held, portfolio company of investment firms GTCR and Golden Gate Capital. The allcash 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. Headquartered in the US, Masterflex is a leading 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. Masterflex has business characteristics common to Avantor including its premium brand, stringent quality standards, specification driven model and highly recurring revenue. Avantor will leverage its differentiated channel and deep biopharma customer relationships to enhance growth opportunities in both research and production environments.