Repligen to Acquire Metenova AB
Metenova meets Repligen's acquisition criteria
Technology leadership in innovative magnetic mixing technology
Broad portfolio of stainless steel (repeat-use) and emerging single-use products with design and performance advantages
Strengthens and expands Fluid Management portfolio
Provides opportunities for vertical integration and supports systems approach
Paves way for entry into single-use mixer market
Adds another key dimension of supply chain control
Repligen brings operational and commercial expertise / mutual leverage
Leverage Repligen's commercial team for single-use products
Leverage Metenova's distributor network and relationships with vessel manufacturers and engineering firms for repeat-use
Broader entry point for Repligen fluid management solutions; in use by >80% of top 20 biopharma companies
Revenue growth, margin improvements as Metenova business expands
Strong historical revenue growth, gross margins 55%-60% and EBITDA >20%
2024 focus on stainless steel (repeat-use) business execution, building mixer portfolio and expanding single-use market
Expected to be accretive to adjusted margins in 2024, accretive to adjusted EPS in 2025
~$170M purchase (~$162M cash, ~$8M equity), 6.5x 2024e revenue at midpoint
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R REPLIGEN
metem nova
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