Cambrex Corp. Announces Acquisition Of Avista - Quick Facts

(RTTNews) - Cambrex Corp. (CBM) announced a definitive agreement to acquire Avista Pharma Solutions, a contract development, manufacturing, and testing organization, for approximately $252 million. Cambrex said, with this acquisition, it will enter the large and growing market for early stage small molecule development and testing services.

Avista is a portfolio company of Ampersand Capital Partners, a healthcare focused private equity firm. It operates four facilities located in Durham, NC, Longmont, CO, Agawam, MA and Edinburgh, Scotland, UK. Avista has over 400 active customers, and is expected to generate approximately $65 million in annual revenue in 2018.

Cambrex expects the transaction to be accretive to adjusted earnings per share in 2019.