Brown Gibbons Lang & Company (BGL) announced the sale of Celsis International Ltd. (Celsis) to Charles River Laboratories International, Inc. for $212 million in cash. BGL's Healthcare & Life Sciences team served as the exclusive financial advisor to Celsis in the transaction.
Celsis is a leading global supplier of rapid microbial detection systems for quality control testing in the biopharmaceutical and consumer products industries. Celsis' systems are principally used for product-release testing to help ensure the safe manufacture of drugs and consumer products. Leading pharmaceutical and consumer product companies have relied on the company's proprietary detection systems to shorten production cycles, reduce inventory requirements, decrease working capital, lower safety stock needs, and diminish waste and energy use. Celsis has the largest installed base of instruments in the world and the industry-leading technology position in speed and sensitivity.
Celsis complements Charles River's Endotoxin and Microbial Detection (EMD) business, bringing CRL access to the consumer products market and expanding its quality control testing solutions across both sterile and non-sterile applications. The acquisition is expected to nearly double the market opportunity for EMD testing products and services.
Charles River Laboratories provides essential products and services to help pharmaceutical and biotechnology companies, government agencies, and leading academic institutions around the globe accelerate their research and drug development efforts. The company provides its clients a broad suite of products and services that improve and expedite the discovery, early-stage development and safe manufacture of new therapies.
Brown Gibbons Lang & Company is a leading independent investment bank serving the middle market. BGL specializes in mergers and acquisitions advisory services, debt and equity placements, financial restructuring advice, and valuations and fairness opinions, with global industry teams in consumer products & retail services, environmental & energy services, healthcare & life sciences, human capital management outsourcing, industrials, and real estate.