GvW Graf von Westphalen advises M-DAX company Sartorius on M&A transaction in China

The Goettingen-based MDAX company Sartorius acquired the chromatography process equipment division of Novasep through its subgroup Sartorius Stedim Biotech in a mixed share/asset deal. Novasep’s division expects to generate sales revenue of approximately 37 million euros in 2020 at double-digit profit margins and employs approximately 100 people, the majority of whom work at its Pompey site in northern France and some in the USA, China and India. The proposed transaction is subject to antitrust approvals and the information and consultation of Novasep’s works council and is expected to close during the first half of 2021. The parties have agreed not to disclose the purchase price.

The overall transaction was lead-managed on the buyer side by Jeantet in close coordination with Milbank LLP. GvW Graf von Westphalen’s Shanghai office advised Sartorius on the acquisition of the Chinese assets.

Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a total solutions provider, the company helps its customers to manufacture biotech medications safely, rapidly and economically. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In 2019, the company employed approx. 6,200 people, and earned sales revenue of 1,440.6 million euros.

GvW Graf von Westphalen advised Sartorius with a team around Dr Dominic Köstner (lead) and Huanlei Yan (both corporate/M&A, Shanghai).

GvW Graf von Westphalen has maintained its own office in Shanghai since 2008 and with currently ten German and Chinese lawyers regularly advises European and US companies on their M&A activities and business relationships in China.