• Speeds up ongoing industry transformation and sharpens Avantor’s strategic focal point
• Strengthens stability sheet with proceeds to be worn for debt paydown

RADNOR, Pa., Aug. 16, 2024 /PRNewswire/ — Avantor, Inc. (NYSE: AVTR), a chief world supplier of mission-critical services and products to consumers within the year sciences and complex applied sciences industries, nowadays introduced the signing of a definitive pledge to divest its medical services and products industry, together with kitting, biorepository, and indistinguishable apparatus and ancillaries (jointly “Clinical Services”), to Audax Personal Fairness (“Audax”) for a transaction price of roughly $650 million.

“Today’s announcement is an important step for Avantor as we continue to optimize our portfolio in line with our new operating model,” stated Michael Stubblefield, President and Well-known Govt Officer. “The divestiture enables us to enhance our focus on strategic growth opportunities in our lab and production businesses, while strengthening our balance sheet.”

Mr. Stubblefield persevered, “In Audax, we are pleased to have found a new owner that recognizes the value proposition of this business and is ideally positioned to invest and grow the platform for the benefit of all stakeholders.”

Extra Transaction Main points

The medical services and products industry has roughly 800 workers and is a part of Avantor’s Laboratory Answers branch. It’s anticipated to generate roughly $200 million of annual income in 2024. The transaction is anticipated to akin within the fourth quarter of 2024, matter to regulatory approvals and alternative normal terminating statuses. Avantor expects the transaction to lead to roughly $475 million in after-tax money proceeds and a discount of roughly $50 million in capitalized rentals. 

Avantor intends to make use of the after-tax proceeds for debt paydown, which additional strengthens the Corporate’s stability sheet and decreases pastime expense.

Avantor will talk about the divestiture on its 3rd quarter 2024 income convention name.

J.P. Morgan Securities LLC is serving as Avantor’s unique monetary guide in reference to the transaction, and Arnold & Porter is serving as Avantor’s criminal guide. Moelis & Corporate LLC is serving as monetary guide to Audax and Ropes & Grey LLP supplied criminal suggest to Audax.

About Avantor

Avantor^® is a chief year science gear corporate and world supplier of mission-critical services and products to the year sciences and complex generation industries. We paintings side-by-side with consumers at each and every step of the clinical exit to permit breakthroughs in medication, healthcare, and generation. Our portfolio is worn in nearly each and every level of essentially the most remarkable analysis, construction and manufacturing actions at greater than 300,000 buyer places in 180 nations. For more info, consult with avantorsciences.com and in finding us on LinkedIn, X (Twitter) and Facebook.

Ahead-Taking a look and Cautionary Statements

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Investor Family members Touch
Christina Jones
Vice President, Investor Family members
Avantor
+1 805-617-5297
[email protected]

World Media Touch
Eric Van Zanten
Head of Exterior Communications
Avantor
+1 610-529-6219
[email protected]

SOURCE Avantor, Inc.