Repligen Corp. has acquired Shrewsbury, Mass.-based TangenX Technology Corp. from Novasep Holding SAS in an all-cash transaction of €37.0 million.
TangenX is the maker of the Sius line of tangential flow filtration cassettes and hardware used in downstream biopharmaceutical manufacturing processes. Tangential flow filtration is a method for separation and purification of biomolecules.
Repligen expects sales of TangenX products to achieve double-digit growth and contribute $7.0 million to $7.5 million in revenue for 2017. The deal is expected to be accretive on both a GAAP EPS and adjusted EPS basis in 2017.
Goodwin Procter LLP served as legal counsel and EC Mergers and Acquisitions provided financial advisory services to Repligen in the deal. Fox Rothschild LLP served as legal counsel, and Brocair Partners provided financial advisory services to Novasep in the deal.