Sartorius to Sell Its Industrial Technologies Division to Minebea
![](/46/pdcnewsitem/03/40/08/vLy0hoz843xdzgg.png)
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 Eli Lilly’s Alzheimer’s drug receives approval from US FDA
After facing several hurdles on its path to approval last year, Eli Lilly’s donanemab treatment for early Alzheimer’s, brand name Kisunla, received US FDA approval this past week. It is the second therapy for slowing the progression of Alzh... -
News This week in GLP-1 drug headlines: Manufacturing investment and new market launches
As drugmakers race to put their own GLP-1 drug products forward as the next biggest thing in weight-loss, current products are making numerous headlines this week with a number of new developments in their commercialisation and approval. Discover the l... -
News Women in Pharma: Regulating equity across regional borders
In our monthly series focusing on women in the pharmaceutical industry, we interview leading experts in the pharmaceutical supply and value chain to discuss the importance of gender diversity in healthcare, the workplace, and beyond. -
News Viral marketing for B2B pharma businesses: a CPHI Online case study
Discover how a Chinese chemical manufacturing company went viral on TikTok, and what their viral success means for the future of B2B digital marketing for the wider pharmaceutical industry and supply chain. -
News New Aurigene biologics facility opens in Hyderabad, India
Aurigene Pharmaceutical Services Ltd. have opened a biologics facility in Hyderabad, India in a biocluster known as Genome Valley. -
News Novo Nordisk launches 'Power of Wegovy' national campaign
Danish drugmaker Novo Nordisk have launched a new national campaign – The Power of Wegovy – that aims to educate those living with obesity on their blockbuster drug Wegovy throughout the United States. -
News Women in Pharma Anniversary: Celebrating Our Heroines of Pharma
Our Women in Pharma interview series is approaching its 1-year anniversary this month, and to celebrate, we are highlighting the Heroines of Pharma that our very own Women in Pharma admire. -
News Sanofi gains rare disease therapy in acquisition of Inhibrx for US$1.7 billion
Sanofi completed the acquisition of the clinical-stage biotech company Inhibrx in late May 2024 after settling on a US$1.7 billion buyout. The acquisition brings with it a rare disease therapy to bollster Sanofi's pipeline.
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