Switzerland-based Siegfried Holding has acquired Alliance Medical Products (AMP), a full service FDA, MHRA and ISO13485 certified CMO, of Irvine, Calif, giving Siegfried an entry into the custom market for sterile filling services.
The purchase consists of a cash payment in the amount of $58 million and contingent earn-out consideration subject to AMP meeting defined profitability goals for the fiscal year ending December 31, 2013. The transaction is expected to be accretive already in 2012.
The addition of sterile filling capabilities has been a strategic goal of the Siegfried Group and will advance its technology base. The acquisition represents an important step toward additional profitable growth for Siegfried.
"Siegfried is one of the few companies with capabilities in both pharmaceutical and chemical manufacturing,” said Dr. Rudolf Hanko, CEO of Siegfried. “Our acquisition of AMP expands our exceptional CMO platform into the sterile filling market, a particularly attractive segment.”
In 2011, AMP achieved revenues of $20 million with approximately 100 employees. The company operates profitably, has an attractive client base and a substantial project pipeline. It is expected to continue its growth and provide a strong contribution to the equity value of the Siegfried. To ensure a seamless integration, the management of AMP will remain in place.
"Our association with Siegfried opens exciting growth and expansion possibilities for AMP,” added Juan Valdes, CEO of AMP. “The combination of sterile filling services with the production of active pharmaceutical ingredients is unique in the custom manufacturing market."