08.31.16
Avantor Performance Materials and NuSil Technology LLC, both portfolio companies of New Mountain Capital LLC, have signed a definitive agreement to merge.
The combined company, to be named Avantor, will provide performance materials and solutions for the production and research needs of more than 6,500 customers across the biotechnology, pharmaceutical, medical device and other industries. The combination brings complementary technologies and advanced analytical capabilities together to create a portfolio of over 30,000 products that meet increasingly stringent standards across technology-driven and highly-regulated markets.
The company will be particularly well positioned to support the industrialization of the biopharmaceutical sector through its bioprocessing and biomaterials offerings with a focus on productivity and quality. Combined revenues will be more $700 million, growing at 14% per year.
"Avantor and NuSil both share a long-standing commitment to collaborate with customers to develop innovative products that meet the most stringent quality and regulatory standards," said Michael Stubblefield, CEO of Avantor. "Both companies have been highly successful and fast growing on their own, and together we will offer even more comprehensive product lines and technological advantages. We at Avantor look forward to working with the NuSil team to capture the full potential from this combination."
"We see significant growth opportunities resulting from the combined resources of Avantor and NuSil," said Ernest Waaser, CEO of NuSil. "Both Avantor and New Mountain Capital share the same vision of creating the global sales and technology leader in ultra-high-purity materials for life sciences and advanced technology applications."
New Mountain initially led investments in Avantor and Nusil in 2010 and 2011, respectively.
The merger is subject to customary closing procedures and is expected to close in late September. Terms of the transaction were not disclosed.
The combined company, to be named Avantor, will provide performance materials and solutions for the production and research needs of more than 6,500 customers across the biotechnology, pharmaceutical, medical device and other industries. The combination brings complementary technologies and advanced analytical capabilities together to create a portfolio of over 30,000 products that meet increasingly stringent standards across technology-driven and highly-regulated markets.
The company will be particularly well positioned to support the industrialization of the biopharmaceutical sector through its bioprocessing and biomaterials offerings with a focus on productivity and quality. Combined revenues will be more $700 million, growing at 14% per year.
"Avantor and NuSil both share a long-standing commitment to collaborate with customers to develop innovative products that meet the most stringent quality and regulatory standards," said Michael Stubblefield, CEO of Avantor. "Both companies have been highly successful and fast growing on their own, and together we will offer even more comprehensive product lines and technological advantages. We at Avantor look forward to working with the NuSil team to capture the full potential from this combination."
"We see significant growth opportunities resulting from the combined resources of Avantor and NuSil," said Ernest Waaser, CEO of NuSil. "Both Avantor and New Mountain Capital share the same vision of creating the global sales and technology leader in ultra-high-purity materials for life sciences and advanced technology applications."
New Mountain initially led investments in Avantor and Nusil in 2010 and 2011, respectively.
The merger is subject to customary closing procedures and is expected to close in late September. Terms of the transaction were not disclosed.