Danaher to acquire US CDMO Aldevron for $9.6bn

Danaher Corporation has agreed to acquire Aldevron, a North Dakota-based manufacturer of plasmid DNA, mRNA, and recombinant proteins, for nearly $9.6 billion from EQT Group’s EQT VIII fund (EQT Private Equity) and others.

EQT Private Equity had acquired a majority stake in Aldevron in 2019, investing alongside TA Associates, the latter’s founders, and management.

The products manufactured by the contract development and manufacturing organization (CDMO) are used for producing vaccines, gene and cell therapy, and also in gene editing and diagnostic applications.

The company, which has a workforce of around 600, has headquarters in Fargo, apart from having operations in Madison, Wisconsin.

Recently, Aldevron had wrapped up the construction and validation of a new 189,000 sq ft manufacturing facility on its 14-acre Breakthrough Campus in Fargo.

Kevin Ballinger – CEO of Aldevron said: “Genetic medicine is the future and our field is expanding rapidly. EQT has been a great partner to us and played an important role in supporting our company as we scale. Danaher is an excellent strategic fit and new home for Aldevron, and we look forward to working with them.”

Aldevron will operate as an independent company and brand within the life sciences segment of Danaher, which is a science and technology innovator based in Washington, D.C.

Rainer M. Blair – Danaher president and CEO said: “We are thrilled to have Aldevron join Danaher’s Life Sciences segment. For nearly 25 years, Aldevron has made tremendous contributions to the advancement of cell, gene and other novel therapies and vaccines.

“This acquisition will expand our capabilities into the important field of genomic medicine and help us support our customers and their critical mission to bring more life-saving therapies and vaccines to market faster.”

The closing of the deal is subject to receipt of applicable regulatory approvals and other customary conditions.