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M&A Deal Summary

IC Biomedical Acquires Worthington Industries - Life Sciences Business

On November 2, 2020, IC Biomedical acquired life science company Worthington Industries - Life Sciences Business from Worthington Enterprises

Acquisition Highlights
  • This is IC Biomedical’s 1st transaction in the Life Science sector.
  • This is IC Biomedical’s 1st transaction in the United States.
  • This is IC Biomedical’s 1st transaction in Alabama.

M&A Deal Summary
Date 2020-11-02
Target Worthington Industries - Life Sciences Business
Sector Life Science
Buyer(s) IC Biomedical
Sellers(s) Worthington Enterprises
Deal Type Divestiture

Target

Worthington Industries - Life Sciences Business

Theodore, Alabama, United States
Worthington Industries, Inc. - Life Sciences Business is a manufacturer of cryogenic stainless steel and aluminum storage freezers, dewars and shippers used to store biological specimens. The comp[any supplies high-quality products to the demanding global biomedical research and development, healthcare, biorepository, pharmaceutical, biotechnology, IVF, and animal breeding markets.

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Buyer(S) 1

Buyer

IC Biomedical

Cartersville, Georgia, United States
Category Company
Sector Life Science
DESCRIPTION

IC Biomedical is a manufacturer of cryogenic aluminum, freezers, dewars, shippers, and custom products for biomedical applications. IC Biomedical is based in Cartersville, Georgia.

DEAL STATS #
Overall 1 of 1
Sector: Life Science M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Alabama M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2020 M&A 1 of 1

Seller(S) 1

SELLER

Worthington Enterprises

Columbus, Ohio, United States
Category Company
Founded 1955
Sector Metals/Mining
Employees6,000
Revenue 1.2B USD (2024)
DESCRIPTION
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.

Worthington Enterprises is a diversified metal processing company. Worthington is a value-added steel processor and a leader in manufactured metal products such as metal framing, pressure cylinders, automotive past model service stampings, metal ceiling grid systems, and laser-welded blanks. Worthington Enterprises was founded in 1955 and is based in Columbus, Ohio.

DEAL STATS #
Overall 4 of 6
Sector: Life Science M&A 1 of 1
Type: Divestiture M&A Deals 4 of 6
State: Alabama M&A 1 of 1
Country: United States M&A 4 of 5
Year: 2020 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-05 Worthington Industries Engineered Cabs

Watertown, South Dakota, United States

Worthington Industries Engineered Cabs is a provider of engineered operator cabs for many of the world’s heavy equipment and off-highway vehicle manufacturers. Worthington Industries Engineered Cabs is based in Watertown, South Dakota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-07 PTEC Pressure Technology

Burscheid, Germany

PTEC Pressure Technology is an independent designer and manufacturer of valves and components for high-pressure hydrogen and compressed natural gas (CNG) storage, transport, and onboard fueling systems, based in Germany.

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