(Boursier.com) — Sartorius Stedim completed the acquisition of Novasep’s chromatography division on February 7 following US Federal Trade Commission (FTC) approval. The transaction had already been accepted in early 2021.
The acquired business generated revenue of approximately €40 million in 2020 with a double-digit profit margin. Final data for 2021 is not yet available. The division employs around a hundred people, most of whom work at the Pompey site, in the eastern half of France, and in the United States, China and India.
The acquired portfolio consists of chromatography systems mainly dedicated to small biomolecules such as oligonucleotides, peptides and insulin, as well as innovative systems for the continuous manufacturing of biological products. Since 2018, Novasep and Sartorius Stedim Biotech have been jointly developing systems optimized for membrane chromatography technology.
With the acquisition expected to generate additional non-organic growth of nearly one percentage point in 2022, Sartorius Stedim Biotech has updated its sales guidance for the current fiscal year as follows: Consolidated sales growth is now projected between 15% and 19% (compared to 14% to 18% previously). The company’s current EBITDA margin is still expected to be over 35% this year.
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