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24 Dec 2013

ATMI Announces Agreement to Sell LifeScienc?es Business to Pall Corporatio?n

ATMI, Inc., a global technology company and leader in single-use bioprocess solutions, has reached agreement with Pall Corporation to sell ATMI LifeSciences in a transaction valued at $185 million.

 

The transaction includes all assets associated with the LifeSciences business, including two locations in Belgium plus a shared facility in Minnesota. ATMI expects the transaction to close during the first quarter of 2014, subject to applicable regulatory approvals and customary closing conditions. After tax cash proceeds from the transaction are expected to be approximately $165 million.

 

"We are very happy to have Pall as the new owner of this business, and believe the fit with Pall's capabilities will accelerate its growth and provide great customer support," said Chief Executive Officer, Doug Neugold. "This transaction, a result of our ongoing exploration of strategic alternatives, also has the effect of realising significant value for our shareholders."

 

"The combination of ATMI LifeSciences and Pall will provide leading technology to serve the bioprocessing industry," added Senior Vice President and General Manager of ATMI LifeSciences, Mario Philips. "I'm extremely excited about joining forces with an outstanding organisation such as Pall Corporation and the expanded opportunities this will provide to our customers."

 

Barclays Capital is acting as financial advisor and Weil, Gotshal & Manges LLP is acting as legal advisor to ATMI in connection with this transaction.

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