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© sartorius ag Business | March 06, 2017

Sartorius to acquire Essen BioScience

Sartorius acquires U.S. based Essen BioScience Inc. from SFW Capital Partners. The transaction, which is subject to antitrust clearance, is expected to close by the end of the first quarter 2017.
Sartorius will purchase Essen BioScience for USD 320 million in cash. Having achieved strong double-digit growth during the past few years, Essen expects to generate sales revenues of approximately USD 60 million in 2017 with continued strong levels of operating profitability. Headquartered in Ann Arbor, Michigan, USA, and with sales entities in the UK and Japan, the company currently employs approximately 150 people.

“With the Essen real-time, live-cell analysis platform, we will add another key technology for advancing and accelerating drug discovery applications to our lab divisions’ portfolio”, said Joachim Kreuzburg, CEO of Sartorius. “This powerful technology offers important synergies with our IntelliCyt business. Going forward, Sartorius will be able to provide our customers the broadest and, we believe, the most innovative portfolio for cell analysis in the industry.”

Welcoming the transaction, Brett Williams, the President and CEO of Essen, said, “We are excited to become part of Sartorius as a ‘Center of Excellence’ and build an industry- leading cell analytics portfolio together with the IntelliCyt business. This is not only a great opportunity to build upon Essen’s market-leading position, but also to continue development and introduction of transformative solutions for life sciences. In addition, we believe that the combination with Sartorius will provide exceptional opportunities for sustained growth and development for our employees, customers and business partners.”

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August 22 2017 10:36 AM V8.6.0-1