The Goettingen-based MDAX company Sartorius has acquired three business units in the field of bioanalytics and bioprocess technology from the U.S. company Danaher by way a mixed share/asset deal following the successful participation in an auction process. The portfolio is reported to have generated combined sales turnover of approximately USD 170 million in 2019 with double-digit profit margins and has a total of 300 employees worldwide. The business includes sites in Europe, the USA and China. The purchase price is approximately USD 750 million.
Milbank LLP has acted as legal lead counsel on the buy-side of the transaction. GvW Graf von Westphalen has advised Sartorius on the acquisition of the Chinese operations and assets from its office in Shanghai. The consummation of the transaction is subject to the approval of the competent antitrust authorities.
In fiscal 2019, the Life Science company Sartorius generated sales revenue of 1.83 billion EUR. The group employs more than 9,000 people at its 60 production and sales locations worldwide. The science and technology group Danaher generated total sales revenue of $20 billion in 2018. Worldwide, 71,000 employees work for the US-American conglomerate.
GvW Graf von Westphalen advised Sartorius with a team consisting of Dr Dominic Köstner (lead), Patrick Heid, Huanlei Yan, Yingci Geng and Zheng Ye (all 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.