GÖTTINGEN, Germany,
July 29, 2021 /PRNewswire/ -- The
life science company Sartorius, through its subgroup Sartorius
Stedim Biotech, acquired cell culture specialist Xell AG
headquartered in Bielefeld, Germany. Xell AG develops, produces, and
markets media and feed supplements for cell cultures, especially
for manufacturing viral vectors that are used in gene therapeutics
and vaccines. Beyond these media, the company offers various
analytical services for characterizing, screening and quantifying
media components, as well as for optimizing media composition.
Xell AG has so far been privately owned, employs around 35
people, and is expected to generate sales revenue of approximately
5 million euros at strong growth rates and a substantial
two-digit EBITDA margin for the full year of 2021. Recently, major
state-of-the-art capacity expansion was completed at the company's
headquarters. The contractual parties agreed on a purchase price of
around 50 million euros in addition to two earn–out components
contingent upon the achievement of defined revenue targets in 2022
to 2025.
"With this acquisition, we are expanding our current media
offering specifically by specialized media for manufacturing viral
vectors and, additionally, in the area of media analytics. At the
same time, we are accelerating the expansion of our production
network in this fast-growing area," said René Fáber, a member of
the Sartorius Executive Board and Head of the Bioprocess Solutions
Division. "I would like to cordially welcome the Xell team to
Sartorius and am looking forward to our collaboration in this
demanding time."
"Sartorius, with its strong sales team and complementary product
portfolio, offers an excellent platform for further expansion, and
we are extremely excited about our joint future development," added
Stefan Northoff, CEO of Xell AG.
This press release contains forward-looking statements about the
future development of the Sartorius Group. Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that could cause actual results to differ
materially from those expressed or implied by such statements.
Sartorius assumes no liability for updating such statements in
light of new information or future events. This is a translation of
the original German-language press release. Sartorius shall not
assume any liability for the correctness of this translation. The
original German press release is the legally binding version.
A profile of Sartorius
The Sartorius Group is a leading international partner of life
science research and the biopharmaceutical industry. With
innovative laboratory instruments and consumables, the Group's Lab
Products & Services Division concentrates on serving the needs
of laboratories performing research and quality control at pharma
and biopharma companies and those of academic research institutes.
The Bioprocess Solutions Division with its broad product portfolio
focusing on single-use solutions helps customers to manufacture
biotech medications and vaccines safely and efficiently. The Group
has been annually growing by double digits on average and has been
regularly expanding its portfolio by acquisitions of complementary
technologies. In fiscal 2020, the company earned sales revenue of
some 2.34 billion euros. At the end of 2020, nearly 11,000
people were employed at the Group's approximately
60 manufacturing and sales sites, serving customers around the
globe.
A profile of Xell
Xell AG is a globally active biotech company with a strong focus
on cell culture media as well as associated analytical and process
services. Within ten successful years in the market, Xell has
established itself as an experienced, reliable partner for the
biopharmaceutical industry, providing efficient off-the-shelf media
and feed products, customized developments, as well as solid
analyses.
Contact
Petra
Kirchhoff
Head of Corporate Communications & Investor Relations
+49 (0)551.308.1686
petra.kirchhoff@sartorius.com
Follow Sartorius on Twitter @Sartorius_Group and on
LinkedIn.
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SOURCE Sartorius AG