Veranova
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Veranova - overview
Location
Devens, MA, US
Primary Industry
Biotechnology
About
Based in the US, Johnson Matthey's Health Business operates as a manufacturing company that produces active pharmaceutical ingredients for the pharmaceutical and biotechnology industry. In December 2021, Altaris agreed to acquire a 70% majority stake in Johnson Matthey's Health Business for GBP 150 million in cash. As of 2021, the company employs around 1,000 employees and seven manufacturing facilities throughout the world. In the fiscal year that ended in March 2021, Johnson Matthey's Health Business generated revenue of EUR 237 million and an underlying operating profit of EUR 31 million.
The company achieved an EBITDA of EUR 33. 0 million and gross assets of EUR 553 million in the 12 months ending September 30, 2021. Following the transaction, which is slated to close in mid-2022, the company will receive an additional GBP 50 million from Altaris, contingent on meeting performance criteria in fiscal years 2023 and 2024, as well as a GBP 50 million vendor loan note.
Current Investors
Altaris
Primary Industry
Biotechnology
Sub Industries
Biopharmaceuticals
Website
www.veranova.com/
Verticals
Manufacturing
Total Amount Raised
Subscriber access only
Veranova - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Corporate Carve Out | Completed | Veranova | - |
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