COMMUNIQUÉ DE PRESSE
par SARTORIUS STED BIO (EPA:DIM)
Sartorius Stedim Biotech SA: Sartorius Stedim Biotech to acquire Polyplus
Sartorius Stedim Biotech SA / Key word(s): Acquisition Aubagne, March 31, 2023 Sartorius Stedim Biotech to acquire Polyplus
Sartorius Stedim Biotech, a leading international partner of the biopharmaceutical industry, has signed an agreement to acquire Polyplus for approximately 2.4 billion euros from private investors, including ARCHIMED and WP GG Holdings IV B.V., an affiliate of Warburg Pincus. Polyplus, with around 270 employees, develops and produces transfection as well as other DNA/RNA delivery reagents and plasmid DNA in high quality and GMP grade. These are key components in the production of viral vectors used in cell and gene therapies and other advanced medicinal therapeutic products. Recording significant growth rates, Polyplus is expected to generate sales revenue in the upper double-digit million-euro range and a very substantial EBITDA margin in 2023. The proposed transaction is subject to customary conditions, including completion of the information and consultation of the works’ council and approval by regulatory authorities and is expected to close during the third quarter of 2023. Founded in 2001, Polyplus is based in Strasbourg, France, and has locations in France, Belgium, the U.S., and China. The company has been expanding its focus beyond transfection reagents through acquisitions in adjacent technologies like plasmid design, and protein and plasmid manufacturing, broadening its upstream portfolio for gene therapies as well as gene-modified cell therapies. “The innovative solutions of Polyplus are highly complementary to our portfolio, in particular to our offering of cell culture media and critical components for the development and manufacture of advanced therapies, and there are also strong synergies with our portfolio of downstream solutions for the manufacture of gene therapeutics,” said René Fáber, member of the Board of Directors and CEO of Sartorius Stedim Biotech. “In the dynamically growing market for cell and gene therapies, viral vectors are needed to deliver the genes of interest into cells. The development pipeline of such therapies has been growing strongly and more and more are reaching major milestones. As a leading supplier of critical components to produce cell and gene therapies, Sartorius Stedim Biotech and Polyplus together will be excellently positioned to play a significant role in this dynamic field.” “This contemplated acquisition is a major milestone in the history of Polyplus, and a recognition of its innovative upstream market leadership position and our highly talented Polyplus teams around the world,” said Mario Philips, CEO of Polyplus. “We would be excited to join forces with a world class bioprocess market leader as Sartorius Stedim Biotech. Our combined portfolios would create a unique ability to optimize the total process workflow to deliver unparalleled value for cell/gene and DNA/RNA therapy customers, in a strong effort to make these critical needed therapies more affordable.” “We are both proud to have jointly supported Polyplus through a transformative period of growth, partnering with the company to successfully expand its product portfolio and execute a strong acquisition strategy,” said TJ Carella, Managing Director and Head of Healthcare, Warburg Pincus. “ARCHIMED has been a 7-year strategic partner and shareholder of Polyplus, hence we are glad company and team find such a good home for their next chapter,” said Denis Ribon, Chairman and Managing Partner, ARCHIMED. “As active investors in life sciences, ARCHIMED and Warburg Pincus strongly believe in the impact that innovative pharmaceutical solutions can have on patients. With their shared mission in supporting the research and development of innovative solutions, we believe Sartorius Stedim Biotech would be the right partner for Polyplus and wish Mario and the Polyplus team the best in their next chapter,” added Ruoxi Chen, Managing Director, Warburg Pincus and Ludovic Alonzi, Principal, ARCHIMED. The ultimate parent company Sartorius AG will receive a bridge loan facility from J.P. Morgan for a transitional period to finance the transaction. Sartorius intends to refinance this loan with long-term financing instruments which might also include an equity component. Jefferies LLC acted as financial advisor and Kirkland & Ellis LLP provided legal counsel to Polyplus and its shareholders. William Blair acted as financial advisor and Milbank LLP and Jeantet provided legal counsel to Sartorius Stedim Biotech. This press release contains forward-looking statements about the future development of the Sartorius Stedim Biotech 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 Stedim Biotech assumes no liability for updating such statements in light of new information or future events. Sartorius Stedim Biotech shall not assume any liability for the correctness of this release. The French press release is the legally binding version. A profile of Sartorius Stedim Biotech Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a provider of innovative solutions, the company based in Aubagne, France, helps its customers to manufacture biotech medications safely, rapidly and economically. The shares of Sartorius Stedim Biotech S.A. are quoted on the Euronext Paris. The company has a strong global reach with manufacturing and R&D sites as well as sales entities in Europe, North America and Asia. Sartorius Stedim Biotech delivers significant organic growth and regularly expands its portfolio through acquisitions of complementary technologies. In fiscal 2022, the company generated sales revenue of around 3.5 billion euros. At the end of 2022, around 12,000 employees were working for customers around the globe. Contact Timo Lindemann Corporate Communications +49 (0)551 308 4724 timo.lindemann@sartorius.com Follow Sartorius on Twitter and LinkedIn. Dissemination of a Financial Wire News, transmitted by EQS Group. |
| Language: | English |
| Issuer: | Sartorius Stedim Biotech SA |
| Avenue de Jouques | |
| 13781 Aubagne | |
| France | |
| Phone: | +33 44 284 5600 |
| E-mail: | sartorius.presse@sartorius.com |
| Internet: | www.sartorius-stedim.com |
| ISIN: | FR0013154002 |
| EQS News ID: | 1597763 |
| End of Announcement - EQS News Service | |
1597763 31-March-2023 CET/CEST