Sartorius to Sell Its Industrial Technologies Division to Minebea
Sartorius is selling its Industrial Technologies Division (Intec) to the Japanese Minebea Co., Ltd and their partner, the Development Bank of Japan Inc. The sales price will be determined as a multiple of the Intec division’s 2014 operating profit and be fixed in early 2015. The contractual parties agreed on a 7.5 multiple on the division’s 2014 operating EBITDA. The transaction is subject to customary closing conditions, including regulatory clearance by the antitrust authorities, and is expected to close in the first quarter of 2015.
“By selling our Intec Division to Minebea, we are realizing an important cornerstone of our long-term strategy and focus on our two core activities in bioprocess and laboratory. Over the past years we have successfully positioned our Intec business as a specialist for industrial weighing and control technologies and have reached healthy profitability levels. Under Minebea`s roof, this business will now gain the critical mass needed to further extend its footprint internationally, an important prerequisite for further growth. I am convinced that Minebea is the perfect new owner for this business because of the complementarity of the product portfolios and the geographical footprint, and also because of their commitment to long-term strategies and premium products,” commented Joachim Kreuzburg, CEO and Chairman of the Executive Board of Sartorius.
The smallest division in the Sartorius Group, Intec recorded sales revenue of €102 million for fiscal 2013; its underlying EBITDA margin attained 10.1% at year-end in the prior reporting period. The division employs around 700 people worldwide, 350 of whom work at its German sites in Hamburg, Aachen and Bovenden. The Intec business will complement the Measurement Components business unit at Minebea, which will take on all Intec Division staff.
Related News
-
News Pharmapack Awards 2024 Patient-Centric Design Award Winner – Dr Ferrer BioPharma
The 2024 Pharmapack Awards celebrated the best in innovation and design for the pharmaceutical packaging and drug delivery industry on January 24, 2024. -
News Women in Pharma: Minding the Gap at Pharmapack 2024
2024 marks the first year Pharmapack will host a Diversity track dedicated to bridging the gap within the pharmaceutical packaging and drug delivery sector. The track includes a panel discussion on 'Enabling Diversity in the Workplace,' focused... -
News Pharmapack Awards 2024 - Celebrating Packaging and Drug Delivery Innovation
The 2024 Pharmapack Innovation Awards ceremony celebrated the best in pharmaceutical packaging and drug delivery innovation at all levels. The awards were held on January 24, 2024 at the Paris Expo Porte de Versailles. -
News 2024 Pharma Industry Trends Outlook: Collaboration, Market Maturity, and Digital Futures
The annual CPHI Online 2024 Pharma Trends Outlook, in partnership with Arvato Systems, identifies 12 key industry trends shaping the life sciences industry in the coming year. -
News New Novo Nordisk AI hub for drug discovery to open in London, UK
Danish pharmaceutical giant Novo Nordisk will be opening an AI-based research facility in the heart of London to advance drug discovery operations. -
News BioNTech to begin mRNA vaccine manufacturing in Rwanda by 2025
German biotechnology company BioNTech has stated their intentions to begin production at their mRNA vaccine factory in Rwanda by 2025, which will mark the first foreign mRNA vaccine manufacturing site on the continent of Africa. -
News Women in Pharma: Looking back on 2023 and moving forward to 2024
In this monthly series, we interview women from across the pharmaceutical industry and supply chain to discuss the importance of gender diversity in healthcare, the workplace, and beyond. -
News CPHI Barcelona 2023: Partnering for Success – Managing Outsourcing Relationships to Optimise Manufacturing Operations
During CPHI Barcelona 2023, insightful content sessions offered attendees the chance to explore trending topics with expert speakers and panellists. Here, we summarise what the pharma industry and supply chain are talking about the most.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance