Avantor, a global supplier of ultra-high-purity materials for the life sciences and advanced technology industries, announced the successful completion of its acquisition of VWR Corporation, an independent provider of product, supply chain and service solutions, for laboratory and production customers
This acquisition creates a vertically integrated global competitor in manufacturing and supply chain solutions for the Life Sciences and Advanced Technology Industries and the combined organisation will be optimally positioned to meet customers’ evolving needs, from discovery through to delivery.
VWR will operate as a wholly-owned subsidiary of Avantor. Michael Stubblefield, CEO of Avantor, will lead the combined company.
The acquisition reflects an enterprise value of approximately $6.5 billion for VWR, with stockholders receiving $33.25 per share in cash. As a result of the closing of the transaction, VWR common stock ceased trading 21 November on the Nasdaq Stock Market.
“The completion of this acquisition marks the beginning of an exciting new chapter for our combined organisation,” said Stubblefield.
“With enhanced scale and favourable long-term industry dynamics, we are well positioned to accelerate growth, benefiting from deeper access to the high-growth biopharma, industrial, and applied research sectors.
“Together we have increased reach and direct channel access, customised logistics and product requirements, and a strong local presence in both developed and emerging markets.”
Manuel Brocke-Benz, former CEO of VWR, said: “By executing on our business plan and growth strategy, VWR built a truly differentiated company, with broad global distribution capabilities and a breadth of essential products, services and technology offerings for laboratory and production customers around the world.”
“I have every confidence that combining VWR with Avantor’s expertise in high-purity materials will enable the new organisation to even better meet our global customers’ evolving needs.”