Mesa Laboratories has announced the acquisition of Gyros Protein Technologies Holding AB.
GPT is headquartered in Uppsala, Sweden and the acquisition deepens Mesa’s commitment to biopharmaceutical quality control and will be the core of its new platform, Biopharmaceutical Development, it states. GPT was acquired from AP6 (Sixth Swedish National Pension Fund), Ampersand Capital Partners and various individual shareholders.
The acquisition price for GPT consisted of cash consideration of $180 million, subject to purchase price adjustments. The acquisition is expected to add between $37 million to $40 million of revenues during the first 12 months (of which approximately 55% is recurring in nature), deliver double digit organic revenues growth over the next several years and excluding the impact of purchase accounting, generate gross profit margin percentages in the mid to high 60’s.
“GPT brings an innovative approach to protein analytics in biopharmaceutical quality control and process development. The Gyrolab immunoassay solution is a proven, microfluidic driven platform that increases repeatability and throughput while minimizing sample size and manual handling. The company also provides a leading peptide synthesis platform delivering the highest quality peptides in particular, for the longer and more complicated sequences that are of vital interest to many applications, including that of therapeutic peptides and neoantigen therapies. We believe that The Mesa Way approach to continuous improvement will help the GPT team to continue to rapidly scale both commercially and operationally,” said Gary Owens, President and Chief Executive Officer of Mesa.
“We are proud of the track record we have improving the processes for developing biotherapeutics. Superior technology backed by deep customer intimacy has been the foundation of our success and we felt the same spirit of innovation at Mesa. We look forward to working with the Mesa team to expand the applications we deliver and deepening our level of customer support,” says Dan Calvo, President of GPT.