Eurofins Scientific, a provider of biopharma products testing services, has signed an exclusive agreement with Ekkio Capital to acquire the Amatsigroup for approximately $150 million.

Amatsigroup is a contract development and manufacturing organization (CDMO) providing preclinical and clinical phase services for the development of human and veterinary drugs. Founded in 2010 by Ekkio Capital, it was formed through the merger of four French companies—Avogadro, Amatsi, DBI and Avepharm—bringing complementary expertise and a cumulative experience in the field of over 30 years. As of 2014, Amatsigroup began to expand internationally with the acquisition of its subsidiaries SEPS Pharma in Belgium and Amatsigroup Inc. in Indiana. Its expansion continued in 2015 with the acquisition of Pierre Fabre’s pharmaceutical analysis laboratory in Saint-Augustin, France. In 2016, the group expanded its activity through the acquisition of QBiologicals, a Belgian company specialized in bioprocess development & biomanufacturing. In early 2017, Amatsigroup strengthened its sterile capacities with the acquisition of Disposable Lab and even more recently signed an exclusive agreement to acquire two sites in France from Bertin Pharma with a strong expertise in galenic formulation and development. This acquisition is expected to be closed during the summer.

Amatsigroup is one of the largest independent multi-specialist platforms in Europe with a unique proposal for specialty and biopharma clients, including biopharmaceutical analysis, formulation development and manufacturing, biological research & development, among other services. The company employs about 450 staff and plans to generate over $65 million in revenues in 2017.

The CDMO has 8 sites in France, including the sites acquired from Bertin Pharma, 2 sites in Belgium and 1 site in the U.S. The company is organized in five business units and delivers a differentiated specialist offer focused on biotechnology companies and mid-size pharma companies, supported by technical capabilities and project management over the whole development cycle. Given its unique positioning as a high value added multi-specialist drug development services provider, the company is well-positioned to leverage and strengthen its footprint in the CDMO industry.

“Over the past 6 years, thanks to the support of our shareholder Ekkio Capital, the company has become a leader in its sector,” said Alain Sainsot, managing director, Amatsigroup. “The Eurofins network would now offer us the opportunity to develop our multi-specialist platform proposal in other countries, get access to Eurofins group international clients as well as to Eurofins globally standardized IT and quality management solutions and generally to strengthen our position as a leader in the CDMO sector in France and other parts of Europe.”

Should the deal come to closing, the addition of Amatsigroup to the Eurofins network would strengthen the Group’s biopharma product testing biopharmaceutical service offering, and strengthen its growing presence in the field of formulation, development and manufacturing of new drugs, following the acquisition of Alphora in Canada earlier this year.

Dr. Gilles Martin, chief executive officer, Eurofins, said, “The acquisition of the Amatsi Group is reinforcing Eurofins leadership position into the BioPharma services line of business. Amatsi’s fast growing contract development and manufacturing services is enabling Eurofins entry in this attractive space in Europe and will be very complementary to our growing network of biopharma product testing activities in Europe. Together with Alphora, recently acquired in Canada, Eurofins is now ready to service its customers on two continents in the CDMO space.”