Avantor sells clinical services business to Audax Private Equity for $650M.

Avantor, Inc. has sold its clinical services business to Audax Private Equity for about $650 million. This transaction is set to generate approximately $500 million in after-tax cash and reduce capitalized leases by around $50 million. Avantor plans to use the proceeds to pay down debt and focus on growth in its lab and production sectors, enhancing its financial stability and reducing interest expenses. The new entity will be rebranded as Resonant Clinical Solutions.

October 18, 2024
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