Repligen Acquires Atoll
News Apr 05, 2016
The combined offering will provide bioprocessing customers with breadth and flexibility in choosing column size, chromatography media and packed bed formats.
Repligen purchased Atoll from UV-Cap GmbH & Co. KG on April 1, 2016 for a combination of $9.1 million in cash and 538,700 shares1 of Repligen common stock, for total upfront consideration of approximately $22.5 million. The agreement also includes a potential payment of €1.0 million, contingent on achieving a predetermined revenue target for the year 2016. The Company expects sales of Atoll products to add approximately $3.0-$3.5 million in revenue for the remaining nine months of 2016, and to be break-even on adjusted EPS, which excludes transaction and integration costs by year-end 2016. The Company expects the acquisition to be EPS accretive, on a GAAP basis, in 2017. Repligen was assisted in this transaction by EC Mergers and Acquisitions, a EuroConsult company.
“Atoll’s MediaScout family of products is a market and technology fit for Repligen that complements our growing OPUS® product line of pre-packed disposable chromatography columns,” said Tony J. Hunt, President and Chief Executive Officer of Repligen. “This acquisition extends our reach into the screening and process development labs where single-use platform technologies are evaluated and adopted. As we look to the future, we see the Weingarten facility as our European commercial and manufacturing center for many of our high-value and flexible solutions for the bioprocessing industry.”
Martin Reuter, Managing Director of Atoll said, “The MediaScout product line has experienced accelerating demand over the last few years. The synergies with Repligen, and OPUS in particular, are clear. We look forward to joining forces to increase the adoption of MediaScout products and drive further adoption of a broader portfolio of pre-packed columns in the bioprocessing market.”
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