Bio­Phar­ma So­lu­tions sold for $4B+ to two pri­vate eq­ui­ty firms

Bax­ter sold CD­MO Bio­Phar­ma So­lu­tions, a con­tract de­vel­op­ment and man­u­fac­tur­ing or­ga­ni­za­tion known for mak­ing ster­ile in­jecta­bles, to two pri­vate eq­ui­ty firms for $4.25 bil­lion in cash.

Ad­vent In­ter­na­tion­al and War­burg Pin­cus, based in Boston and New York City, re­spec­tive­ly, plan to op­er­ate the CD­MO as a stand­alone com­pa­ny. The deal is ex­pect­ed to close lat­er this year.

Bio­Phar­ma So­lu­tions, which has about 1,700 em­ploy­ees in Bloom­ing­ton, Ind., and Halle, Ger­many, brought in $644 mil­lion in sales in 2022, a 4% drop from $669 mil­lion in sales re­port­ed the pre­vi­ous year. It’s ex­pect­ed to gen­er­ate $600 mil­lion in rev­enue this year.

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