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SP INDUSTRIES

Acquired by

ATS CORPORATION

UNITED STATES Industrial Equipment EV [100m USD - 500m USD] 12/2021

Target

SP INDUSTRIES

Acquirer

ATS CORPORATION

Context

ATS Automation has finalized the acquisition of SP Industries from Harbour Group, a maneuver designed to fundamentally expand the group's capabilities in the pharmaceutical and life sciences sectors. The strategic rationale for this transaction centers on a "portfolio-expansion" play, merging the target's industry-leading aseptic and non-aseptic lyophilization technology with the group’s established global leadership in automated manufacturing solutions. This fusion effectively creates a specialized powerhouse in the bioprocessing equipment arena, providing the organization with the high-precision hardware required to address the increasing complexity of drug development and fill-finish operations.

SP INDUSTRIES, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN premium to the 10.5x average currently observed in the Industry & Manufacturing sector.

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

SP Industries operates as a premier technology organization dedicated to the design and manufacture of high-grade biopharmaceutical processing equipment and laboratory apparatus. The entity’s business model is centered on a proprietary framework of lyophilization and aseptic fill-finish solutions, which are mission-critical for the stabilization and packaging of temperature-sensitive biologics and vaccines. Its value proposition is anchored in technical operational depth, providing a comprehensive portfolio that spans from research-scale freeze dryers to large-capacity commercial production systems. Strategically, the firm focuses on the entire pharmaceutical drug development lifecycle, leveraging a strong recurring revenue stream through its specialized labware and glassware business. By maintaining a specialized focus on standardized, repeatable results in sterile environments, the organization ensures a vital role in the structural efficiency of pharmaceutical manufacturing. The entity prioritizes technical innovation and industrialized quality standards to facilitate the structural advancement of therapeutic production worldwide.

Ent. Value

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Equity Value

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Multiples Analysis

EV / Revenue

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EV / EBITDA

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EV / EBIT

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Historical Financials (EUR)

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EBITDA
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2021
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2020
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Other operations with SP INDUSTRIES

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