David Wong, a partner at Audax, highlighted the value proposition of the acquired business: “We appreciate the unique capabilities that this business delivers to some of the most demanding customers in the pharma and life sciences sectors, and we look forward to investing aggressively to expand the company’s commercial and technical reach.”
Financial and Strategic Impact
Avantor expects to net approximately $475 million in after-tax cash proceeds from the sale, which it plans to use to pay down debt. This move is aimed at strengthening Avantor’s balance sheet and reducing interest expenses, positioning the company for further strategic investments.
The acquisition is being executed through Audax’s flagship private equity fund, with the deal expected to close in the fourth quarter of the year, subject to regulatory approvals and customary closing conditions.
Legal Teams Involved
Avantor’s legal team from Arnold & Porter was led by corporate partners Marisa White and Derek Stoldt, with support from tax partner Laurie Abramowitz, antitrust partner Debbie Feinstein, and benefits partner Henry Clinton-Davis. On the other side, Audax was represented by a Ropes & Gray team that included private equity partner Chau Le, finance partner Greg Bauer, healthcare partner Michael Lampert, life sciences regulatory and compliance partner Josh Oyster, tax partner Pamela Glazier, employment partner Megan Bisk, executive compensation and employee benefits partner Jennifer Rikoski Whitney, and real estate partner Peter Alpert.
