- Siegfried has signed binding agreements to acquire the drug substance business of the Noramco Group and Extractas Bioscience, adding three small-molecule sites and around 400 employees.
- The transaction supports Siegfried’s EVOLVE+ strategy by expanding US capacity and strengthening its integrated CDMO and contract manufacturing offering.
Siegfried has signed binding agreements with an affiliate of SK Capital Partners to acquire the drug substance business of the Noramco Group and Extractas Bioscience. The deal adds three small-molecule drug substance sites across the US and Australia, employing approximately 400 people.
The acquired operations include Noramco, a commercial-scale manufacturing site in Wilmington, Delaware; Purisys, a clinical API development and manufacturing facility in Athens, Georgia; and Extractas Bioscience, a purified products manufacturer based in Westbury, Tasmania. The acquisition expands Siegfried’s presence in the US, the largest pharmaceutical market.
Siegfried plans to grow its exclusive synthesis business by optimising controlled substance capacity across the Wilmington site and its nearby Pennsville facility. The addition of Purisys’ early-phase development capabilities and Extractas Bioscience’s extraction expertise is intended to strengthen the company’s integrated CDMO and contract manufacturing services for small-molecule drug substances.
“This transaction marks a decisive next step in the execution of our EVOLVE+ strategy and is aligned with our highly selective, disciplined value accretive approach to M&A. The combined capacity and expertise of the three sites would strengthen the company’s position with existing and new customers.”
Marcel Imwinkelried, Chief Executive Officer of Siegfried
The valuation of the acquired business is below 10 times Enterprise Value to EBITDA. Siegfried said the transaction will be financed through existing and new debt instruments. Subject to customary closing conditions, the acquisition is expected to close later this year.
