AMRI acquires Excelsyn

AMRI has acquired Excelsyn, a provider of development and large scale manufacturing services to larg

The acquisition expands AMRI's portfolio of development and large scale manufacturing facilities as well as its customer portfolio, with little overlap of customers between the two companies. The proximity of Excelsyn's business to European customers has been an important factor in these customers' decisions to award business to Excelsyn.

As per the terms of the agreement, AMRI has purchased all of the outstanding shares of Excelsyn for approximately $19m in cash. Besides gaining an expanded presence in Europe and the UK, AMRI gains a cost competitive option for conducting development/manufacturing work, particularly in the production of chemical intermediates.

The acquired Excelsyn site is expected to be managed by David Rowles as general manager of Holywell Operations, who will report to Steve Hagen, VP of pharmaceutical development and manufacturing. Dr Rowles has been chief operating officer at the site since it became Excelsyn in 2004.

Ian Shott CEO of Excelsyn, has accepted a consulting relationship and will continue to assist with customer relationships for the UK site and also work with AMRI's business development team to build further relationships for all of AMRI's locations with potential customers in Europe.

Thomas D'Ambra, chairman and CEO of AMRI, said: "The acquisition of Excelsyn further builds out AMRI's global continuum spanning the US, Asia and Europe, and is a significant milestone in its strategy to continue to expand our services platform and global footprint. AMRI remains committed to generating significant value from this segment of our business.

"We believe this acquisition will increase our ability to penetrate a market space relatively untapped to date, including customers in large pharma based in Europe. This acquisition also enhances our ability to offer lower cost solutions at a time when cost has been become a major factor in outsourcing decisions being made, particularly in the large pharmaceutical sector."

Ian Shott CEO of Excelsyn, said: "We are excited to be joining the AMRI team. The similarities in both operations and company cultures create an even more compelling reason for our customers to continue to partner with the combined organisation as their outsourcing provider of choice."