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    MZX   DE0005492938

MASTERFLEX SE

(MZX)
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Masterflex : Avantor bolsters COVID vaccine manufacturing with $2.9 bln Masterflex deal

09/07/2021 | 07:13am EST

Sept 7 (Reuters) - U.S. lab products provider Avantor Inc will buy Masterflex from privately held Antylia Scientific in a $2.9 billion all-cash deal to beef up its COVID-19 therapy and vaccine manufacturing operations.

The purchase, announced on Tuesday, would enable Avantor to take advantage of strong demand for vaccines as the Delta variant drives a jump in U.S. infections and evidence emerges of waning antibody levels in vaccinated people.

A top U.S. health official said last week that the government plans to invest $3 billion in the vaccine supply chain, as it prepares to begin offering a booster shot to Americans.

Other medical equipment makers have also made acquisitions to expand their COVID-19 vaccine manufacturing capabilities, with Danaher Corp agreeing in June to buy Moderna Inc supplier Aldevron for about $9.6 billion.

Illinois-based Masterflex manufactures products such as peristaltic pumps, used for research and production of biologic drugs, vaccines and cell and gene therapies. The net purchase price for the deal is about $2.7 billion, given expected tax benefits.

Avantor said the purchase was likely to add to its adjusted earnings in the first year after the deal's close, expected in the last quarter of 2021.

The Masterflex buyout comes on the heels of Avantor's $1.1 billion deal in April to buy Ritter, a German COVID-19 PCR test products maker.

While demand for COVID-19 testing has slowed from its peak last year following vaccinations, some testing companies have said the Delta variant was driving a rebound in demand.

(Reporting by Mrinalika Roy and Amruta Khandekar in Bengaluru; Editing by Aditya Soni)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
MASTERFLEX SE 1.29% 6.28 Delayed Quote.9.73%
MODERNA, INC. -2.94% 301.49 Delayed Quote.188.59%
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Financials
Sales 2021 77,5 M 87,6 M 87,6 M
Net income 2021 3,45 M 3,90 M 3,90 M
Net Debt 2021 18,4 M 20,8 M 20,8 M
P/E ratio 2021 17,7x
Yield 2021 1,53%
Capitalization 59,6 M 67,4 M 67,4 M
EV / Sales 2021 1,01x
EV / Sales 2022 0,90x
Nbr of Employees 556
Free-Float 41,9%
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Last Close Price 6,20 €
Average target price 10,55 €
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Andreas Bastin Chief Executive Officer
Mark Becks Chief Financial Officer
Georg van Hall Chairman-Supervisory Board
Gerson Link Vice Chairman-Supervisory Board
Jan van der Zouw Member-Supervisory Board
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