Novo Holdings acquires BBI Group in £400 million deal

pharmafile | June 15, 2021 | News story | Manufacturing and Production acqusition, deal, finance 

Novo Holdings, a holding company of the Novo Group, has acquired BBI Group from Exponent for an enterprise value of over £400 million.

BBI is headquartered in South Wales and employs over 400 staff across its sites in seven countries and four continents. BBI provides critical reagents and immunoassay development, lateral flow development, diagnostic manufacturing services, and smartphone reader technologies to a global blue-chip customer base that includes Thermo-Fisher, Merck, and Siemens. The company’s market-leading brand, BBI Solutions, provides a range of products, including antibodies, antigens, labels, complementary reagents, and point of care tests.

Johan Hueffer, Senior Partner at Novo Holdings, said: “We are proud to be the next owners of BBI. Diagnostics is a very attractive space which, with an enhanced global focus on preventative medicine, will play an increasingly important part in improving health outcomes for patients around the world. 

“We see tremendous opportunities for both organic and inorganic growth for the company. Novo Holdings is looking forward to contributing its considerable industry expertise and extensive network in supporting the talented team at BBI.”

Novo Holdings is headquartered in Copenhagen and is a private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding company of the Novo Group, comprising Novo Nordisk and Novozymes, and is responsible for managing the Novo Nordisk Foundation’s assets.

Mario Gualano, Group CEO of BBI, said: “We are delighted to be working with Novo Holdings, a team with a strong track record and a shared vision for growth and innovation. In the last five years, we have grown revenues and profitability considerably through investing in our products and services, people, and world-class infrastructure. We now have a fully invested and scalable platform to deliver future growth in a large and fast-growing market.”

Kat Jenkins

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