BDO has provided vendor financial and tax due diligence services in relation to the agreed sale of Albumedix Limited to Sartorius Stedim Biotech GmbH.
Nottingham based Albumedix is a leading manufacturer of recombinant human albumin which is used in various applications throughout the biopharmaceutical industry, including cell therapies, viral therapies and vaccines.
It is now planned that Albumedix will become part of the Bioprocess Solutions Division within Sartorius, whose involvement will provide additional support and investment to the company’s ambitious growth plan.
"BDO’s vendor due diligence report was a thorough piece of work that demonstrated a strong understanding of the key commercial considerations and issues relevant to our business. In particular, the review period included major exceptional events generating complicated accounting considerations relevant to understanding the historical financial performance of the business. BDO understood this, identified the key risk areas and performed thorough analysis which was presented in a clear and concise manner helping all parties gain the necessary confidence to complete the transaction. BDO’s proactive approach supporting our management team throughout the transaction process is considered invaluable to the ultimate sale of the business. We would be happy to recommend BDO."
Mark Kalinoski (Chief Financial Officer)