M&A Deal Summary

Advent International and Warburg Pincus Acquire Simtra BioPharma Solutions

On May 8, 2023, private equity firms Advent International and Warburg Pincus acquired life science company Simtra BioPharma Solutions from Baxter International for 4.3B USD

Acquisition Highlights
  • This is Advent International’s 21st and Warburg Pincus’ 27th transaction in the Life Science sector.
  • This is Advent International’s 5th and Warburg Pincus’ 6th largest (disclosed) transaction.
  • This is Advent International’s 100th and Warburg Pincus’ 233rd transaction in the United States.
  • This is Advent International’s 7th and Warburg Pincus’ 8th transaction in Illinois.

M&A Deal Summary

Date 2023-05-08
Target Simtra BioPharma Solutions
Sector Life Science
Buyer(s) Advent International
Warburg Pincus
Sellers(s) Baxter International
Deal Type Divestiture
Deal Value 4.3B USD

Target

Simtra BioPharma Solutions

Deerfield, Illinois, United States
Simtra BioPharma Solutions partners with pharmaceutical companies to support their commercialization objectives by providing scientific expertise, sterile contract manufacturing solutions, parenteral delivery systems, and customized support services needed to meet the unique challenges that parenteral products face. Simtra BioPharma Solutions is based in Deerfield, Illinois.

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Buyer(S) 2

Buyer

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 76.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 330 of 339
Sector (Life Science) 21 of 21
Type (Divestiture) 37 of 37
State (Illinois) 7 of 7
Country (United States) 100 of 100
Year (2023) 3 of 7
Size (of disclosed) 5 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-04 Envalior

Düsseldorf, Germany

Envalior specializes in Global Engineering Materials powerhouse offering novel and Innovative solutions to today’s world. Envalior portfolio comprises polyamides (PA6, PA66), polyesters as PBT as well as various specialty materials like PA46, PA410 and specialty polyesters as well as PPS and thermoplastic fiber composites. Envalior was founded in 2023 and is based in Düsseldorf, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-23 Parfums De Marly

Paris, France

Parfums De Marly is an operator of a fragrance company that offers over 30 type of fragrances. Parfums De Marly was founded in 2009 and is based in Paris, France.

Buy -
Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 470 of 482
Sector (Life Science) 27 of 27
Type (Divestiture) 19 of 20
State (Illinois) 8 of 8
Country (United States) 233 of 237
Year (2023) 3 of 7
Size (of disclosed) 6 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-12 Triton International

Hamilton, Bermuda

Triton International engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal transportation equipment to shipping lines, and freight forwarding companies and manufacturers. Triton International was founded in 1980 and is based in Hamilton, Bermuda.

Sell $13.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-15 Wencor Group

Springville, Utah, United States

Wencor Group manufactures, repairs and distributes aircraft parts for operators, repair stations and manufacturers across the globe. Wencor Group provides CMM and DER repairs for components and piece parts. Wencor Group also distributes a wide variety of aftermarket parts including bearings, seals, hardware, filters, electrical components, lighting, and interiors. Wencor Group also provides targeted solutions for both US and foreign militaries. Wencor Group was formed in 1955 and is based in Springville, Utah.

Sell $2.1B

Seller(S) 1

SELLER

Baxter International

Deerfield, Illinois, United States

Category Company
Founded 1931
Sector Medical Products
Employees60,000
Revenue 14.8B USD (2023)
DESCRIPTION
Entrance to Baxter International's corporate headquarters in Deerfield, Illinois.
Entrance to Baxter International's corporate headquarters in Deerfield, Illinois.

Baxter International develops, manufactures and markets drugs and medical products for people with a variety of medical conditions. Baxter's operations are comprised of the BioScience and Medical Products segments. The BioScience business processes recombinant and plasma-based proteins to treat hemophilia and other bleeding disorders; plasma-based therapies to treat immune deficiencies, alpha-1 antitrypsin deficiency, burns and shock, and other chronic and acute blood-related conditions; biosurgery products; and select vaccines. The Medical Products business manufactures intravenous (IV) solutions and administration sets, premixed drugs and drug-reconstitution systems, pre-filled vials and syringes for injectable drugs, IV nutrition products, infusion pumps, and inhalation anesthetics. The business also provides products and services related to pharmacy compounding, drug formulation and packaging technologies. In addition, the Medical Products business provides products and services to treat end-stage renal disease, or irreversible kidney failure. Baxter International was founded in 1931 and is based in Deerfield, Illinois.


DEAL STATS #
Overall 6 of 7
Sector (Life Science) 4 of 4
Type (Divestiture) 5 of 6
State (Illinois) 3 of 4
Country (United States) 4 of 5
Year (2023) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-02 Hill-Rom

Chicago, Illinois, United States

Hill-Rom manufactures and provides medical technologies and related services for the health care industry. Hill-Rom offers patient care systems, safe mobility and handling solutions, and non-invasive therapeutic products for various acute and chronic medical conditions, medical equipment rentals, surgical products, and information technology solutions. Hill-Rom was founded in 1915 and is based in Chicago, Illinois.

Buy $12.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-13 Vantive

Deerfield, Illinois, United States

Vantive is a global kidney care, offering products and services for peritoneal dialysis, hemodialysis, and organ support therapies, including continuous renal replacement therapy (CRRT). Vantive is based in Deerfield, Illinois.

Sell $3.8B