OR WAIT 15 SECS
The merger of Avantor Performance Materials and Nusil Technology positions the company for growth in bioprocessing.
Avantor Performance Materials and NuSil Technology, portfolio companies of New Mountain Capital, announced on Aug. 31, 2016 an agreement to merge. The combined company, to be named Avantor, will provide performance materials and solutions for the production and research to more than 6500 customers in the biotechnology, pharmaceutical, medical device, diagnostics, aerospace and defense, and semiconductor industries.
The combination brings complementary technologies and advanced analytical capabilities to a portfolio of mor than 30,000 products; the company reports in a press announcement that it will be 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 over $700 million, growing at 14% per year.
New Mountain is the majority owner of both companies, and will remain as the majority owner post-merger. The merger is expected to close in late September. Terms of the transaction were not disclosed.
Source: Avantor Performance Materials