Purdue - Safeguard Scientifics

Laureate Pharma was a private contract manufacturing business owned by Purdue and based in NJ with a focus on biologics and drug delivery.  The facility employed about 50 people and had revenues of $8 M growing at 50%/year.

Safeguard Scientifics is a NYSE listed holding company. They provide growth capital as well as a range of strategic, operational and management resources to their businesses in life sciences and information technology.

Burrill & Company’s Role

The Merchant Banking Group served as the exclusive advisor for Laureate and approached, negotiated and closed the transaction with a non-obvious buyer.  Burrill managed the MBO effort, separated a joint union run facility from the sale and maintained the performance of the business despite distractions.

The deal closed in 5 months; the purchase price was nearly 4x revenues.