Avantor completes acquisition VWR $6.5 billion

Avantor completes acquisition of VWR for $6.5 billion

10:55 AM, 22nd November 2017
Avantor logo

CENTER VALLEY/ RADNOR, US: Avantor Inc has successfully completed its acquisition of VWR Corporation (VWR), the leading global independent provider of product, supply chain, and service solutions to laboratory and production customers.

VWR will operate as a wholly-owned subsidiary of Avantor. Michael Stubblefield, CEO of Avantor, will lead the combined company.

The acquisition reflects an enterprise value of approximately $6.5 billion for VWR, with stockholders receiving $33.25 per share in cash. As a result of the closing of the transaction, VWR common stock will cease trading on the Nasdaq Stock Market, the company said.

New Mountain Capital will be the lead shareholder of the combined company. As part of the transaction, the Goldman Sachs Merchant Banking Division is leading an equity investment in the company.

Avantor will be the corporate name of the new company, and the VWR name will remain in place as one of the company's selling channels, ensuring a seamless transition for customers and offering the ability to continue ordering from vwr.com. Avantor will maintain a strong presence in both the Lehigh Valley and Radnor, Pennsylvania regions.

"The completion of this acquisition marks the beginning of an exciting new chapter for our combined organization. The new Avantor is a leading global provider of discovery-to-delivery solutions that offer more value to customers along with an additional layer of supply chain security," said Stubblefield.

"By executing on our business plan and growth strategy, VWR built a truly differentiated company, with broad global distribution capabilities and a breadth of essential products, services and technology offerings for laboratory and production customers around the world," said Manuel Brocke-Benz, former CEO of VWR.

Goldman Sachs, Jefferies LLC, Barclays and JP Morgan acted as financial advisors to Avantor, and Simpson Thacher & Bartlett LLP acted as legal advisor to Avantor. BofA Merrill Lynch acted as exclusive financial advisor to VWR, and Kirkland & Ellis LLP acted as legal advisor.

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