Avantor announced the successful completion of its acquisition of VWR Corporation. VWR will operate as a wholly-owned subsidiary of Avantor. Michael Stubblefield, Chief Executive Officer 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 will cease trading today on the Nasdaq Stock Market.
“The completion of this acquisition marks the beginning of an exciting new chapter for our combined organization,” said Stubblefield. “The new Avantor is a leading global provider of discovery-to-delivery solutions that offer more value to customers along with an additional layer of supply chain security.”
New Mountain Capital will be the lead shareholder of the combined company. As part of the transaction, the Goldman Sachs Merchant Banking Division is leading an equity investment in the company.
Avantor will be the corporate name of the new company, and the VWR name will remain in place as one of the company’s selling channels, offering the ability to continue ordering from vwr.com. Avantor will maintain a presence in both the Lehigh Valley and Radnor, Pennsylvania regions.