3 February 2017
William Blair and BDA advise CMC Biologics on sale to Asahi Glass
Divested CMC Biologics to Asahi Glass
William Blair acted as the exclusive financial advisor to CMC Biologics, a portfolio company of Monitor Clipper Partners and European Equity Partners, in connection with its sale to Asahi Glass. William Blair advised on the transaction in conjunction with its Asian affiliate, BDA Partners. This transaction was signed on December 15, 2016, and closed on February 1, 2017.
Deep relationships and sector expertise: CMC was attracted to William Blair’s highly relevant pharmaceutical contract development and manufacturing transaction experience, deep sector knowledge, and ability to identify and effectively engage with the most likely acquirers. By drawing on its extensive knowledge of the CDMO sector, William Blair was able to successfully position the investment merits of the opportunity.
Global execution expertise: William Blair’s proven ability to deliver strong outcomes by coordinating highly competitive global processes was crucial. William Blair’s sales process produced a strong competitive dynamic, attractive valuation, and favorable economic and purchase agreement terms.
Trusted guidance for long-term growth: William Blair’s advisory of CMC has entailed multiple financing rounds, including Monitor Clipper Partners’ investment in 2008. Furthermore, for more than a decade, William Blair has been a trusted advisor to management and its shareholders through CMC’s most significant transactions, including the acquisition of its Seattle manufacturing facility from Eli Lilly.
About the Companies
CMC Biologics is a contract development and manufacturing organization (CDMO) offering mammalian and microbial services. CMC provides high-value-added cell line construction, process development, scale-up, and manufacturing of active pharmaceutical ingredients (APIs) used in drug development (preclinical, Phase I, II and III) and in commercially marketed biopharmaceutical drugs. CMC’s customers operate in the pharmaceutical and biotech industries. CMC Biologics operates on a global scale with production facilities in Denmark (Copenhagen) and the United States (Seattle and Berkeley). The group currently employs approximately 525 people. Asahi Glass is a world-leading manufacturer of glass, chemicals, and high-tech materials. Based on more than a century of technical innovation, AGC has developed a wide range of cutting-edge products. AGC employs approximately 50,000 people worldwide.
William Blair made a minority investment in and entered into a strategic alliance with BDA Partners in order to offer clients our collective global reach.
Divested significant stake in Kehua Bio-Engineering to Gree Real Estate
Divested LAP Laser to IK Investment Partners
Divested majority stake to The Longreach Group
Divested plant health business in Japan to Nisso
Divested The Ritedose Corporation to AGIC and Humanwell
Majority recapitalized by Galen Partners
Acquired Graphic Controls, USA
Divested to a Japanese chemicals & life science company
Sold stake in An Giang Plant Protection to Standard Chartered
Acquired Adval Tech Medical (Suzhou) and Omni Manufacturing (Mexico)
Divested Shanghai Elsker Mother & Baby Co. Ltd to Johnson & Johnson
Divested Radiant Research Inc, US-based clinical research company
Divested medical supply business to Halma in the UK
Established an animal vaccine JV with Jilin Guoyuan Animal Health
Acquired Lablndia distribution business in India
Divested Swine MH vaccine business in China to Harbin Pharmaceutical group