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Carlyle, GTCR to buy Albany Molecular Research for $922m

PBR Staff Writer Published 07 June 2017

The Carlyle Group and GTCR have agreed to acquire global contract research and manufacturing organization, Albany Molecular Research (AMRI), for around $922m.

Based in Albany of New York, AMRI provides drug discovery, development, cGMP manufacturing and aseptic fill and finish services to the pharmaceutical and biotechnology industries.

Under the deal, the affiliates of Carlyle and GTCR will acquire AMRI by paying 21.75 per share in cash, representing a 42% premium to the closing stock price on 5 April.

With facilities in North America, Europe and Asia, AMRI includes business segments such as discovery and development services (DDS), active pharmaceutical ingredients (API), drug product (DP), and fine chemicals (FC).

AMRI’s drug development services include assay development, natural product services, lead optimization, medicinal chemistry and others.

Its drug development services comprised of process R&D, pre-formulation and formulation development, GLP bioanalytical and separation sciences.

Subject to customary closing conditions, the deal is expected to close after the completion of AMRI's stockholders voting on the transaction in the third quarter of this year.

AMRI president and CEO William Marth said: "This transaction is a strong endorsement of our strategy. 

“Given their deep healthcare industry expertise and financial resources, Carlyle and GTCR are highly attractive partners for us and offer a compelling opportunity to accelerate our growth and enhance delivery of world-class solutions to our customers."

GTCR healthcare group head and managing director Dean Mihas said: "We believe AMRI is uniquely positioned to capitalize on an increased trend for outsourcing of pharmaceutical products and services and look forward to partnering with the AMRI team to achieve its strategic objectives and drive value for all of AMRI's stakeholders."


Image: Carlyle Group and GTCR to acquire Albany Molecular Research. Photo: courtesy of PinkBlue / FreeDigitalPhotos.net.