Avantor Completes Acquisition of RFCL Limited
Avantor Performance Materials Holdings S.A. recently announced it has completed its acquisition of RFCL Limited from ICICI Venture Funds Management Company Limited. Avantor, previously known as Mallinckrodt Baker, and its subsidiaries manufacture and market high-performance chemistries and materials around the world under two well-known and respected brand names, J.T.Baker and Macron Chemicals (formerly Mallinckrodt Chemicals). Terms of the deal were not disclosed.
Avantor identified RFCL as an attractive target to build on its current presence in the laboratory and pharmaceutical markets in
Headquartered in
“We see significant growth opportunities resulting from the combined resources of Avantor and RFCL, and we believe both Avantor and
“This acquisition will enable RFCL to take advantage of new opportunities,” said Prashant Purker, Executive Director at ICICI Venture. “This type of outcome is consistent with ICICI Venture’s way of investing, where we create value for all stakeholders. With this transaction, we have affected a complete exit from our investment in RFCL.”
“We look forward to working with the RFCL leadership team to capture the full potential from this combination,” said Jean-Marc Gilson, President and CEO of Avantor. “We believe that RCFL is the perfect partner for us as we expand our presence in this region and provide solutions for global customers in the laboratory, pharmaceutical, and electronic materials industries.”
RFCL Limited covers the expanse of Life Sciences industries including pharmaceuticals, biotechnology, R&D laboratories, life sciences, in vitro diagnostic facilities in clinical labs and hospitals through its two Strategic Business Units: Rankem and Diagnova. RFCL has evolved its corporate philosophy around Science, Solutions and Life. This philosophy is the foundation for RFCL’s vision: “Leveraging Science To Provide Solutions for a Better Life.” RFCL has approximately $50 million in annual sales.
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