BIOVECTRA acquired for $925 million
BIOVECTRA Inc. and Agilent Technologies, Inc. (NYSE: A) today announced the signing of an agreement for Agilent to acquire BIOVECTRA, a Canadian-based Contract Development and Manufacturing Organization, from H.I.G. Capital for $925 million.
The acquisition provides the ability to expand the range of capabilities available to global pharmaceutical partners working on next-generation treatments and therapeutics that will improve patients’ lives.
“Today is a testament to the reputation BIOVECTRA has built as a trusted partner with our roster of clients and to our internal efforts to continuously grow our service offering, ultimately better serving patients’ lives,” said Oliver Technow, CEO of BIOVECTRA. “We are grateful for the role H.I.G. has played in our success these past five years and are excited to further build on that with Agilent through this synergistic pairing.”
Agilent’s acquisition includes all BIOVECTRA employees and sites in Prince Edward Island and Nova Scotia, Canada.
“BIOVECTRA and H.I.G. Capital developed a fantastic and satisfying partnership. We supported Oliver and his exceptional team to exponentially grow the company’s value through the expansion of its capabilities and workforce, as well as create a diversified customer pipeline,” said Mike Gallagher, Managing Director of H.I.G. Capital. “We believe that Agilent is a first-class organization that will help BIOVECTRA grow to even greater heights.”
The acquisition will expand Agilent’s end-to-end biopharma solutions with BIOVECTRA’s biologics capabilities to accelerate drug development and manufacturing. See Agilent’s news release here.
More information to follow once the transaction closes, which is expected before 2025 and subject to the satisfaction of customary regulatory and other closing conditions.
More about BIOVECTRA:
- Founded in 1970 by Prince Edward Island entrepreneur Dr. Regis Duffy and owned by H.I.G. Capital since 2019.
- Named Canada’s Top Employer in 2022 and 2023, and Top Atlantic Canadian Employer for nine consecutive years.
- Recently made a total of $240 million of capital investments to expand its operational footprint in both Prince Edward Island and Nova Scotia.
- Earlier this year, the company completed a biologics expansion of capabilities specialized in mRNA, pDNA, lipid nanoparticles and sterile fill/finish work, from clinical to final sterile fill/finish drug product (read more here).
About BIOVECTRA
BIOVECTRA (www.biovectra.com) is a global biotech and pharmaceutical CDMO (contract development and manufacturing organization) that specializes in clinical-to-commercial scale production capabilities for: biologics, small molecules, bioreagents, lipids, pDNA, mRNA and LNP manufacturing. Flexibility, creativity, process optimization and compliance are at the heart of our method. With close to 55 years of experience, and cGMP facilities in Prince Edward Island and Nova Scotia, Canada, we assure our programs advance on time and with the highest quality outcomes.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in analytical and clinical laboratory technologies, delivering insights and innovation that help our customers bring great science to life. Agilent’s full range of solutions includes instruments, software, services, and expertise that provide trusted answers to our customers’ most challenging questions. The company generated revenue of $6.83 billion in fiscal 2023 and employs approximately 18,000 people worldwide. Information about Agilent is available at www.agilent.com.
