Brown Gibbons Lang & Company (BGL) today announced the sale of Celsis Analytical Services (Celsis AS), a division of Celsis International Ltd., to AAIPharma Services Corporation (AAIPharma), a portfolio company of Water Street Healthcare Partners. BGL’s healthcare team initiated the transaction and acted as the exclusive financial advisor to Celsis International.
Celsis AS provides cost-effective, outsourced cGMP-certified laboratory services with industry leading sample turn-around times via its laboratory operations in Edison, New Jersey and St. Louis, Missouri. Both testing centers, comprising 65,000 square feet of laboratory facilities, will be additive to AAIPharma’s existing 300,000 square feet of facilities. The combined entity offers a comprehensive menu of methods validation and testing services for biotechnology, pharmaceutical and consumer products manufactures, raw materials suppliers, and manufacturers of agricultural and veterinary medicine products.
“The addition of Celsis Analytical Services will enable AAIPharma to expand its market presence in two key regions. Our combined company will bring a differentiated offering to the contract services market with an integrated development and material testing service model,” said Patrick Walsh, CEO of AAIPharma. “We are excited to integrate Celsis labs’ business with AAIPharma, creating one of the largest and most experienced materials testing businesses in the U.S.”
“Celsis AS and AAIPharma have very complementary client bases and can provide a comprehensive range of testing services to the growing pharmaceutical and biotechnology outsourcing market, said Jay LeCoque, CEO of Celsis International Ltd. “Combining the companies will position each to participate more fully in the growth of this market.” Terms of the deal were not disclosed.
Celsis International is a leading global provider of innovative life science products and laboratory services to the pharmaceutical and consumer products industries. For more information, visit www.celsis.com.
AAIPharma Services Corporation is a leading provider of contract services that encompass the entire process of pharmaceutical drug development from discovery through commercialization. The company’s wide array of capabilities includes analytical chemistry, formulation development, material testing services, microbiology, and clinical and commercial contract manufacturing and packaging. AAIPharma Services serves more than 300 clients around the globe. It is headquartered in Wilmington, North Carolina. For more information, visit www.aaipharma.com.