Leader in innovative filtration products Donaldson Company has completed the acquisition of Solaris Biotechnology, costing approximately €41 million. The latter, a bioprocessing equipment manufacturer, will share its tech including bioreactors, fermentors and tangential flow filtration systems for the food and beverage industry. Its product portfolio covers benchtop to commercial-scale manufacturing systems.
“We are excited about Solaris’ capabilities and growth trajectory, and this acquisition is an important step on our journey towards strengthening our presence in the life sciences market,” said Tod Carpenter, chairman, president and chief executive officer of Donaldson. “With Solaris, we are well-positioned to provide more comprehensive solutions to food and beverage customers and expand our access to biopharma and other key life sciences markets. We are committed to building our presence in these markets, and this acquisition, combined with a strong pipeline of opportunities for both focused organic growth and additional acquisitions, gives us confidence we can deliver on our strategic priorities while creating value for our stakeholders.”
“By being part of Donaldson, we will have the global scale and financial flexibility to continue delivering on our growth plans, and we are thrilled about this opportunity,” said Matteo Brognoli, co-founder and chief executive officer of Solaris. “Like Donaldson, Solaris is built on strong customer relationships and providing technologically advanced solutions. With the need for Solaris products expanding rapidly we are better able to meet the growing need while playing an important role in Donaldson’s expansion into life sciences.” Mr. Brognoli will remain with the Company to lead Solaris as Managing Director with responsibility for day-to-day operations and continued growth of the business.
Donaldson Company has been operating since 1915, while Solaris Biotechnology is an Italy-based business with U.S. operations in Berkeley, California.