Repligen To Buy Polymem For An Undisclosed Sum

Repligen Corporation RGEN has agreed to acquire France-based Polymem S.A., a provider of hollow fiber membranes and modules.
"The acquisition significantly expands our hollow fiber membrane and module production capabilities and adds core R&D, engineering, and production expertise in hollow fiber technology for both industrial and bioprocessing markets," Tony J. Hunt, President and CEO of Repligen, said.
Jean-Michel Espenan and Franc Saux will stay on with the company in their respective president and technical director roles.
The acquisition is expected to close during Repligen's Q3 of 2021.
Repligen intends to use its cash on hand to fund the transaction, which totaled approximately $711 million on March 31, 2021.
Additional financial details were not disclosed.
Perella Weinberg Partners LP is acting as a financial advisor.
Price Action: RGEN shares closed at $196.14 on Monday.