GVS: completion of the Closing of the acquisition of Haemonetics Puerto Rico, LLC
Zola Predosa (BO) (Italy), June 29th, 2020
GVS S.p.A, (“GVS”) a leading player providing advanced filtration solutions for critical applications, announces the completion today of the acquisition from Haemonetics S.A. of the equity interest of Haemonetics Puerto Rico, LLC (“Haemonetics”), company active in the development and supply of blood filters with a production plant in Fajardo, Puerto Rico.
The consideration paid by GVS was equal to USD 15.5 M. The acquisition was financed with GVS available liquidity. Within 90 days after the closing date, the price may be adjusted (upwards or downwards) on the basis of the actual value of available cash, working capital and inventory as of the closing date.
On the same date, GVS and Haemonetics Corporation have signed a long-term supply and development agreement that will, among other things, grant GVS exclusive rights to manufacture and supply the blood filters currently produced at the Fajardo facility.
The combination of the companies’ respective technical expertise, global sales and distribution networks will provide GVS an opportunity to further penetrate the blood filtration market. The partnership will further strengthen the relationship between the Companies, create mutually beneficial synergies and leverage the unique capabilities of both organizations. GVS will provide its blood filtration know-how and industrial process excellence and Haemonetics its global commercial network.
As a result of this partnership, the two Companies will strengthen their leadership position in the market and will boost the development of new products and new approaches to the business.
GVS group description:
The GVS group is one of the global leaders in the supply of filtration solutions in the Healthcare & Life Sciences, Energy & Mobility and Health & Safety sectors.
GVS has a strong international presence with 13 production plants located in Italy, United Kingdom, Brazil, United States, China, Mexico and Romania, and 6 commercial companies located in Argentina, Russia, Turkey, Japan, Korea and China. The Group had revenues from contracts with clients of Euro 227 million and Adjusted EBITDA of Euro 62 million for the year ended December 31, 2019.
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