Marlborough’s WaterSep BioSeparations has been purchased for $27 million by France-based Sartorius Stedim Biotech.
WaterSep is a private company in Marlborough, with around 15 employees manufacturing and marketing hollow-fiber membrane devices and pre-sterilized assemblies for upstream and downstream biopharmaceutical applications, according to a release by Santorius. The purchase agreement includes a price of $27 million, plus an earn-out component of up to $9 million, depending on the achievement of defined sales revenue growth by 2023.
“WaterSep is excited to join the Sartorius Stedim Biotech team as they continue to lead the transformation of bioprocessing to single use,” Attila Herczeg, CEO and president of WaterSep BioSeparations, said in the release.
According to Santorius, WaterSep is expected to earn revenue of approximately $2.5 million in 2020.
Santorius is headquartered in Aubagne, France and helps its customers to manufacture biotech medications. In 2019, the company employed approximately 6,200 people, and earned sales revenue of 1,440.6 million euros, according to the release.
