The acquisition of ATMI LifeSciences division by Pall Corp. for $185 million was announced last Monday. This is the second deal with a life sciences company in the past six months, exemplifying Pall’s strength as an organization. ATMI LifeSciences employees around 195 people in four different locations, primarily based in Danbury, Conn.
Pall expects the acquisition to add $20-$30 million in revenue for the balance of fiscal 2014. During the Credit Suisse Global Industrials Conference, Pall chief financial officer, Akhil Johri, said they have a strong merger and acquisition pipeline that is “a close second” priority to their internal investments. He believes that they will have strong returns on these investments.
ATMI’s chief executive officer, Doug Neugold, said of the arrangement “We are very happy to have Pall as the new owner of this business, and believe the fit and their capabilities will accelerate its growth and provide great support to our customers.”
His excitement is only matched by Larry Kingsley, Pall Chairman and CEO, who said “This acquisition immediately strengthens our offering and broadens our already extensive portfolio of advanced solutions for biopharmaceutical customers.”
ATMI LifeSciences is a leader in the pharmaceutical and biopharmaceutical industries leading producer of single-use bioprocess systems and consumables. Their portfolio consists of custom-engineered solutions and systems to drive efficiency and deliver value to companies around the world. This will grow Pall’s consumable production.
Learn more by reading the press release here.