Archimed and Warburg Pincus to exit Polyplus

• Polyplus will be acquired by Sartorius for around €2.4bn
• Sartorius will receive a bridge loan facility from JP Morgan to finance the transaction
• Archimed and Warburg Pincus first invested in Polyplus in 2016 and 2020, respectively

Archimed and Warburg Pincus will sell Polyplus, a provider of upstream technologies for cell and gene therapies, for around €2.4 billion to Sartorius Stedim Biotech.

UPDATE: Sources close to the deal expect Warburg to realise almost 5x on its initial investment over an approximately three-year hold. Details on Archimed’s return can be found here.

Polyplus is based in Strasbourg, France.

Sartorius will receive a bridge loan facility from JP Morgan for a transitional period to finance the transaction, according to a release.

Sartorius plans to refinance this loan with long-term financing instruments which might also include an equity component, the release added.

The proposed transaction is expected to close during the third quarter of 2023, subject to regulatory approval.

Sartorius Stedim Biotech is a pharmaceutical and laboratory equipment provider headquartered in Aubagne, France.

Archimed first invested in Polyplus in 2016 and Warburg Pincus invested in the firm in 2020. ArchiMed and Warburg Pincus are equal shareholders with the same voting rights.

Archimed is an investment firm focused on healthcare industries. The firm manages €6 billion across its various funds. It is headquartered in Lyon, France.

Warburg Pincus is a global growth investor based in New York. The firm manages over $85 billion assets.

Jefferies acted as financial advisor and Kirkland & Ellis provided legal counsel to Polyplus and its shareholders.