Solentim Ltd. (“Solentim”) has been sold to Advanced Instruments (“AI”), a portfolio company of Patricia Industries, a subsidiary of Investor AB (STO: INVE-B). Based in Bournemouth, UK, Solentim is a trusted global leader of solutions for the isolation and characterization of high value single cell clones in cell line development (CLD) applications. The Company’s products are utilized in the early stages of biologic drug development to accelerate the selection of optimal clones for production of monoclonal antibodies, support the culture of iPSC as well as the development of cell banks.
Advanced Instruments, based in Norwood, MA, provides osmolality testing instrumentation and consumables for the biopharmaceutical, clinical and food & beverage industries. The Company’s OsmoTECH® portfolio of osmometers, designed specifically for the biopharma industry, are a powerful tool to characterize and optimize cell culture conditions to support clonal growth and selection as well as support upstream and downstream production processes.
The acquisition of Solentim will add a highly complementary, differentiated and innovative portfolio of bioprocessing instruments and consumables to Advanced Instruments, and significantly expand the commercial and R&D capabilities of Advanced Instruments’ biopharmaceuticals business.
The purchase price is $240M. Solentim generated approximately $17M and $5M in revenue and adjusted EBITDA for the twelve-month period ending June 2021, respectively. The Company’s average annual growth rate for the past three years amounts to 38 percent.
EC M&A acted as exclusive financial advisor to Solentim on this transaction.
