Jeantet advises Sartorius Stedim Biotech on the acquisition of Novasep’s chromatography process equipment division
Paris, 6 January 2021 – Sartorius Stedim Biotech, a leading international partner of the biopharmaceutical industry, today announced it has entered into an agreement to acquire the chromatography process equipment division of Novasep. The parties agreed not to disclose the purchase price until the necessary regulatory approvals have been obtained.
Novasep’s division expects to generate sales revenue of approximately 37 million euros in 2020 at double-digit profit margins and employs approximately 100 people, the majority of whom work at its Pompey site in northern France and some in the USA, China and India. The proposed transaction is subject to antitrust approvals and the information and consultation of Novasep’s works council and is expected to close during the first half of 2021.
Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a total solutions provider, the company helps its customers to manufacture biotech medications safely, rapidly and economically. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In 2019, the company employed approx. 6,200 people, and earned sales revenue of 1,440.6 million euros.
Novasep is a global provider of cost-effective and sustainable manufacturing solutions for life sciences molecules and fine chemicals. Novasep’s unique offering includes process development services, purification equipment and turnkey processes, contract manufacturing services and complex active molecules to serve pharmaceutical, biopharmaceutical, fine chemical, food and functional ingredients, as well as fermentation and chemical commodities industries.
Sartorius Stedim Biotech was advised by Jeantet with a team lead by Karl Hepp de Sevelinges (partner, Corporate/M&A), including Michael Samol (counsel, Corporate/M&A), Robert d’Orglandes (associate, Corporate/M&A), Laetitia Ternisien (counsel, Employment) and Gabriel di Chiara (counsel, Tax).
The firm Milbank LLP has worked closely with Jeantet, notably with Michael Bernhardt (partner, Corporate/M&A) and Alexander Rinne (partner, Antitrust), as well as the firm GvW Graf von Westphalen for Chinese law aspects.
Novasep was advised by White & Case LLP with a team lead by François Leloup (partner, Corporate/M&A), including Delphin Boucher (counsel, Corporate/M&A), Alexandre Jaurett (partner, Employment) and Orion Berg (counsel, Regulatory). Teams in the New-York and Washington offices have been involved on US law aspects and a team in the Shanghai office has been involved on Chinese law aspects.
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