Repligen Corporation, a life sciences company focused on bioprocessing technology leadership, today announced that it has entered into an agreement to acquire Toulouse, France-based Polymem S.A. (“Polymem”), a leading industrial expert in the development and manufacture of hollow fiber membranes and modules.
We are delighted to have Jean-Michel, Franc and the Polymem team join the Repligen family. The acquisition significantly expands our hollow fiber membrane and module production capabilities and adds core R&D, engineering and production expertise in hollow fiber technology for both industrial and bioprocessing markets.
The business complements what we have already in place at our Rancho Dominguez site and establishes a world-class center of excellence in Europe to meet the accelerating demand for hollow fiber products and to serve our rapidly expanding global customer base.”
Tony J. Hunt, President and CEO of Repligen
Jean-Michel Espenan, President of Polymem, said, “Since co-founding the company in 1997, Polymem has remained true to our expertise in hollow fiber membrane development and manufacturing for industrial and life sciences applications. By joining forces with Repligen, we now have the opportunity to focus on two market segments, Municipal/Industrial and Bioprocessing, each with very similar needs and demands.
This deal further extends our market reach, allowing us to boost our growth across both our historical Municipal/Industrial markets and the Bioprocessing market. We continue to increase capacity with the extension of our production site in Castanet-Tolosan, south of Toulouse, and we look forward to working together with Repligen to further penetrate our core markets.”
Jean-Michel Espenan and Franc Saux will stay on with the company in their current respective roles of President and Technical Director. The proposed acquisition is expected to close during Repligen’s third fiscal quarter of 2021, subject to the satisfaction of customary closing conditions.
To fund the transaction, Repligen intends to use its cash on hand which totaled approximately $711 million at March 31, 2021. Additional financial details were not disclosed. Perella Weinberg Partners LP is acting as financial advisor and Goodwin Procter LLP is serving as legal counsel to Repligen.
About Repligen Corporation
Repligen Corporation is a global life sciences company that develops and commercializes highly innovative bioprocessing technologies and systems that increase efficiencies in the process of manufacturing biological drugs. We are inspiring advances in bioprocessing for the customers we serve; primarily biopharmaceutical drug developers and contract development and manufacturing organizations (CDMOs) worldwide.
Our corporate headquarters are located in Waltham, Massachusetts, with additional administrative and manufacturing operations worldwide. The majority of our manufacturing sites are located within the U.S. (California, Massachusetts, New Jersey and New York), and outside of the U.S. we have sites in Estonia, Germany, Ireland, the Netherlands and Sweden.
Polymem S.A., located outside of Toulouse in southwestern France, was established in 1997 by two engineers specializing in hollow fiber membrane technology. The company has grown into a team of 60 people, dedicated to the development and manufacture of hollow fiber membranes, membrane modules and systems. These products are used in water treatment, solid/liquid separation, gas separation, liquid/gas transfer and bioprocessing applications.
Polymem anticipated the demands of the worldwide municipal and industrial markets and is now recognized not only for its ability to develop innovative products, but also for the quality of its production of membranes, cartridges and modules for various applications and sectors.