Siegfried acquires three more sites

As part of its ongoing Evolve+ strategy, Swiss CDMO Siegfried has signed binding agreements with an affiliate of SK Capital Partners to acquire three drug substance sites in the US and Australia for its exclusive synthesis business. They comprise:

• Noramco, a commercial-scale manufacturing site in Wilmington, Delaware
• Purisys, a clinical API development and manufacturing facility located in Athens, Georgia
• Extractas Bioscience, a leading manufacturer of purified products based in Westbury, Tasmania 

The company said plans to optimise Noramco’s controlled substance capacity across with its own nearby Pennsville site. Collectively, these sites employ about 400 people. Their total valuation is said to be about 10 x EBITDA. Subject to customary closing conditions, the transaction is expected to close later this year.