Sartorius bags another bolt-on, acquiring Polyplus

German life science group Sartorius (SRT: ETR) saw its shares fall 4.9% to 310.00 euros today, after it announced an M&A deal.

Through its French listed subgroup Sartorius Stedim Biotech, Sarturius has signed an agreement to acquire France-based Polyplus for around 2.4 billion euros ($26.2 billion) from private investors including ARCHIMED and WP GG Holdings, an affiliate of Warburg Pincus.

Polyplus, with around 270 employees, develops and produces transfection as well as other DNA/RNA delivery reagents and plasmid DNA in high quality and GMP grade. Recording significant growth rates, Polyplus is expected to generate sales revenue in the upper double-digit million-euro range and a very substantial EBITDA margin in 2023. The proposed transaction is subject to customary conditions, is expected to close during the third quarter of 2023.