U.S. lab products provider Avantor to buy Masterflex in $2.9 bln deal (updated)

Masterflex SE

07/09/2021 12:13

(Adds background, details of deal)
    Sept 7 (Reuters) - U.S. lab products provider Avantor Inc
 AVTR.N  said on Tuesday it would buy Masterflex from privately
held Antylia Scientific in a $2.9 billion all-cash deal that
would strengthen its COVID-19 therapy and vaccine manufacturing
operations.
    Illinois-based Masterflex manufactures products such as
peristaltic pumps, used by pharmaceutical and biotech companies
for research and production of biologic drugs, vaccines and cell
and gene therapies.
    Global efforts to curb the spread of the pandemic have
driven a demand surge for raw materials used in vaccines and
therapy production, companies such as Thermo Fisher Scientific
 TMO.N  have said. 
    Avantor in April struck a $1.1 billion deal to buy German
peer Ritter, which had seen heightened demand for its products
used for COVID-19 PCR tests.
    Avantor estimates the buyout of Masterflex to add to its
adjusted earnings per share in the first year after the close of
the deal, expected in the last quarter of 2021.

 (Reporting by Mrinalika Roy and Amruta Khandekar in Bengaluru;
Editing by Aditya Soni)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))