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Sartorius AG Industrial Technologies Division (Intec) to be Acquired by Minebea Co., Ltd.

Friday, January 9, 2015

Sartorius AG

William Blair & Company acted as the financial advisor to Sartorius AG in connection with the pending sale of its Industrial Technologies Division (Intec) to Japan-based Minebea Co., Ltd. and their partner, the Development Bank of Japan Inc. The transaction was announced on December 19, 2014 and is subject to customary closing conditions, including regulatory clearance by the antitrust authorities. It is expected to close in the first quarter of 2015.

Transaction Highlights

  • Proven results and trusted guidance:  Sartorius and the transaction team of William Blair look back at a longstanding relationship, having advised Sartorius on several M&A transactions in the past decade.
     
  • Carve-out resulting in complex transaction structure:  The transaction exhibited several complex structuring themes in regard to inter-company relationships and carve-out considerations in numerous countries.
     
  • Highly strategic transaction:  Through the acquisition of Intec, Minebea materially advances its product offering, technical capabilities, and global customer coverage within the industrial weighing segment.
     
  • Significant value for the shareholders of Sartorius AG:  The enterprise value of Intec is fixed as a multiple of Intec’s 2014 EBITDA and represents a superior value proposition compared to the alternative offers.

About the Companies

Intec develops, produces, and markets high-quality weighing, measurement, and inspection systems for applications in the manufacturing processes of a variety of industries. The company operates specialized production sites in Germany, India, China, and the Philippines (software development), as well as sales and service organizations in 16 countries globally.

Sartorius AG provides laboratory and process technologies and equipment that enables its global customer base from the biotech, pharmaceutical, and food industries, as well as from public research institutes and laboratories to implement complex and quality-critical processes in biopharmaceutical production and laboratory environments in a time- and cost-efficient way. Sartorius operates its own production facilities in Europe, Asia, and North and Central America, and also has sales offices and local representatives in more than 110 countries.

Minebea is a leading Japanese manufacturer of high-precision components that are used in a wide range of consumer and industrial products. The company was established in 1951 and is listed on the Tokyo Stock Exchange. Minebea operates production facilities in Asia, Europe, and North America.

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