Sartorius acquires filtration expert WaterSep BioSeparations
- Transaction provides a complementary fit with Sartorius' separation portfolio, adding innovative crossflow filtration units for easy-to-use bioprocessing devices
- Technology is especially suited to gene and cell therapy applications, vaccine production and intensified bioprocessing
GÖTTINGEN, Germany, Dec. 9, 2020 /PRNewswire/ -- The life science company Sartorius today acquired U.S.-based purification expert WaterSep BioSeparations LLC through its subgroup Sartorius Stedim Biotech. WaterSep BioSeparations develops, manufactures and markets hollow-fiber membrane devices and pre-sterilized assemblies for upstream and downstream biopharmaceutical applications. The privately-owned company based in Marlborough, Massachusetts, USA, employs around 15 people and is expected to earn revenue of approximately 2.5 million U.S. dollars in 2020 at strong growth rates and a substantial double-digit EBITDA margin. The parties agreed on a purchase price of approximately 27 million U.S. dollars plus an earn-out component of up to 9 million U.S. dollars, depending on the achievement of defined sales revenue growth by 2023.
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"This acquisition nicely complements our current offering for cell and gene therapy applications, cell harvesting and various solutions for intensified bioprocessing," said Dr. René Fáber, Head of the Sartorius Bioprocess Solutions Division and Executive Board member. "I am pleased to welcome the WaterSep team to Sartorius and look forward to jointly introducing WaterSep BioSeparations innovative solutions to our customers."
"With Sartorius' strong emphasis on cost- and time-saving bioprocessing, it is the ideal partner to accelerate the adoption of our extensive single-use crossflow product offerings. WaterSep is excited to join the Sartorius team as they continue to lead the transformation of bioprocessing to single use," said Attila Herczeg, CEO and President of WaterSep BioSeparations.
This press release contains forward-looking statements about the future development of the Sartorius Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius assumes no liability for updating such statements in light of new information or future events. This is a translation of the original German-language press release. Sartorius shall not assume any liability for the correctness of this translation. The original German press release is the legally binding version.
About 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 been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In fiscal 2019, the company earned sales revenue of some 1.83 billion euros. At the end of 2019, more than 9,000 people were employed at the Group's approximately 60 manufacturing and sales sites, serving customers around the globe.
About WaterSep
WaterSep BioSeparations Corporation was formed with the goal in mind of introducing the most effective crossflow filtration products on the market. As filtration innovators, we recognize the need to control manufacturing and assembly of our cartridges from concept to completion. All our hollow-fiber membranes are developed and manufactured in WaterSep's ISO 9001:2015 certified facility, where we also assemble all our cartridges. Our advanced membrane production processes guarantee reproducible, robust, and high-quality hollow fibers. WaterSep can also customize hollow-fiber membranes and cartridges to meet your specific needs.
Contact
Petra Kirchhoff
Head of Corporate Communications and Investor Relations
+49 (0)551.308.3684
petra.kirchhoff@sartorius.com
www.sartorius.com
Follow Sartorius on Twitter @Sartorius_Group and on LinkedIn.
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SOURCE Sartorius AG
