Global investment firm KKR and Biosynth Carbosynth, a life sciences reagents and custom synthesis and manufacturing services company, announced that KKR has agreed to acquire Biosynth Carbosynth from Armira and CEO Dr. Urs Spitz. Financial details of the transaction were not disclosed.
Dr. Spitz and senior managers of the company will retain a significant ownership stake and will continue to lead the company as it embarks on its next chapter of growth, the statement said.
Founded in 1966 in Switzerland, Biosynth Carbosynth is a vertically integrated business serving some of the world’s largest diagnostic and pharmaceutical companies. Armira partnered with Dr. Urs Spitz in 2014 to support the development of the company, which included making significant investments in both organic and inorganic growth initiatives, such as the acquisition and integration of Carbosynth in 2019.
With the support of KKR, Biosynth Carbosynth plans to accelerate its geographic expansion, broaden its capability set, and expand its product portfolio, further establishing itself as a leader within its chosen markets, the statement said.
“I would like to thank Armira for our trusting and very successful partnership over the last seven years. I am excited to welcome KKR as our future strategic partner as they have the industry experience, international network, and resources to help us realize our vision of becoming a global platform. KKR’s strategic partnership will enable us to continue to scale the business while retaining the best-in-class product quality, science-led focus, and industry-leading expertise for which our customers have come to know us,” commented Dr. Urs Spitz, CEO and President of Biosynth Carbosynth.
“Reliable, high-quality supply of critical reagents is central to the effective and safe development of diagnostics and therapeutics for the benefit of patients worldwide. We are excited to be working with Urs and Biosynth Carbosynth’s impressive management team, and believe that there is a significant opportunity to build Biosynth Carbosynth into a leading life sciences tools platform,” said Kugan Sathiyanandarajah, Managing Director at KKR and Head of Europe for KKR’s Health Care Strategic Growth strategy and Anuv Ratan, Principal at KKR.
Christian Ollig, Partner and Head of the DACH region at KKR, commented, “This strategic partnership with Biosynth Carbosynth is a fantastic addition to the KKR family, and another example of our strong footprint in the DACH region, our deep expertise in healthcare, and our ability to support family-owned businesses as they move into a new phase of development. Urs is a visionary leader who is highly regarded in Switzerland and beyond, and we are delighted to become part of the company’s exciting future.”
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