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Advent International And Warburg Pincus Complete Acquisition Of Baxter’S Biopharma Solutions Business

Oct 02, 2023•about 2 years ago

Acquiring Company

Warburg Pincus

Acquired Company

Marlin Equity Partners

New YorkDeerfieldFinanceFinancial ServicesInvestment ManagementHealth Care

Description

Advent International (“Advent”), one of the largest and most experienced global private equity investors, and Warburg Pincus, a leading global growth investor, today announced the completion of their previously announced acquisition of Baxter International Inc.’s (NYSE:BAX) BioPharma Solutions (BPS) business. The business will now be a standalone contract development and manufacturing organization (CDMO) operating under the name Simtra BioPharma Solutions (“Simtra”) and will continue to offer customers the same solutions and capabilities to help ensure supply of critical pharmaceutical products worldwide. Under the terms of the definitive agreement, Baxter received $4.25 billion in cash, subject to certain closing adjustments.

Company Information

Company

Warburg Pincus

Location

New York, New York, United States

About

Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $86 billion in assets under management, and more than 230 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has been an active investor in the aerospace & defense and industrial technology sectors with current and former investments including Accelya, Aquila Air Capital, CAMP Systems, Consolidated Precision Products, Duravant, Extant Aerospace, Infinite Electronics, Inmarsat, iNRCORE, Quest Global, Sundyne, TransDigm and Wencor Group. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.

Company

Advent International

Location

800 Boylston Street

About

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 390 private equity investments across 41 countries, and as of December 31, 2021, had $88 billion in assets under management. Advent has considerable experience in distribution, having previously supported market leaders such as ABC Supply, MORSCO Inc., Distribution International, Rubix and Caldic. With 15 offices in 12 countries, Advent has established a globally integrated team of over 250 investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology. For over 35 years, Advent has been dedicated to international investing and remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. For more information, visit Website: www.adventinternational.com LinkedIn: www.linkedin.com/company/advent-international

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed