AMRI Bought for $922M

Albany Molecular Research has signed a definitive agreement to be acquired by affiliates of The Carlyle Group and GTCR for $922M. AMRI is a global contract research and manufacturing organization with locations in North America, Europe and Asia. Its key business segments include Discovery and Development Services (DDS), Active Pharmaceutical Ingredients (API), Drug Product (DP), and Fine Chemicals (FC).

William Marth, president and chief executive officer, AMRI, said, "This transaction is a strong endorsement of our strategy. Given their deep healthcare industry expertise and financial resources, Carlyle and GTCR are highly attractive partners for us and offer a compelling opportunity to accelerate our growth and enhance delivery of world-class solutions to our customers."

"We strongly believe in AMRI's strategic direction and have been very impressed with management's ability to transform the business into a trusted partner for the biopharma industry," said Dean Mihas, managing director and head of the healthcare group for GTCR. "We believe AMRI is uniquely positioned to capitalize on an increased trend for outsourcing of pharmaceutical products and services and look forward to partnering with the AMRI team to achieve its strategic objectives and drive value for all of AMRI's stakeholders."