Avantor® to Acquire Masterflex® Expanding Single-Use Bioproduction

Avantor, a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies & applied materials industries, announced that it has entered into a definitive agreement to acquire the Masterflex bioprocessing business and related assets (collectively "Masterflex") of Antylia Scientific, a privately held, portfolio company of investment firms GTCR and Golden Gate Capital. The all-cash transaction is valued at $2.9 billion, subject to final adjustments at closing. 

Headquartered in Vernon Hills, Illinois, Masterflex is a leading global manufacturer of peristaltic pumps and aseptic single-use fluid transfer technologies with estimated 2022 revenues of approximately $300 million. The acquisition strengthens Avantor's offering across all bioproduction platforms including monoclonal antibodies (mAbs), cell and gene therapy and mRNA, and supports both therapy and vaccine manufacturing including COVID-19. For more than 50 years, Masterflex has been providing industry-leading fluid transfer technologies central in the execution of research and production workflows.

"The acquisition of Masterflex reflects our commitment to the biopharma industry, and our ability to identify and execute on value-creation opportunities," said Michael Stubblefield, President and CEO of Avantor. "The business enhances our portfolio of proprietary technologies and strengthens our position in the highest growth segments of the market. Both Avantor and Masterflex share a strong culture of innovation and excellence, and we look forward to welcoming Masterflex's highly skilled team to the Avantor family."

"This proposed transaction helps both parties and positions the Masterflex bioprocessing business well for future growth," said Brian Barnett, President, Masterflex Bioprocessing. "Avantor's broad portfolio is used in virtually every stage of the most important research, development and production activities. We are excited about combining our end-to-end fluid management solution with Avantor's comprehensive portfolio of process ingredients, chromatography resins and excipients for Biopharma customers worldwide."

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