Clearwater International advises Biotest on sale of its Microbiological Monitoring Business - HYCON and heipha Dr. Müller to Merck
Clearwater International acted as sole financial adviser to Biotest AG on the sale of its Microbiological Monitoring Business - HYCON and heipha Dr. Müller GmbH to Merck KGaA, within a combined asset and share deal.
The Global Business Unit comprises two production sites in Germany, as well as four subsidiaries - heipha Dr. Müller GmbH (Eppelheim, Germany), Biotest Microbiology Corp. (Rockaway, NJ, USA), Biotest S.à.r.l (Paris, France) and Biotest K.K. (Yokohama, Japan) as well as its related assets in five Biotest Group subsidiaries (Germany, Switzerland, Austria, United Kingdom, Hungary).
The business employs around 300 staff and generated sales of approximately €50m in 2010. The enterprise value is up to €101m including certain contingent payments on a cash and debt free basis.