Biokinetics
The owners of Biokinetics successfully gained ownership of the company through a management buyout though suspected that future growth would likely require the resources of a strategic acquirer. They had been approached by four large engineering firms, at least half of whom were interested in using Biokinetics as a way to establish a foothold in the U.S. market.
The owners of Biokinetics enlisted BCMS Corporate to manage the transaction through a Negotiation Only service – establishing addition competition and managing full negotiations with all parties. BCMS contacted an additional 25 potential acquirers on behalf of Biokinetics, generating negotiation meetings with 5 additional parties. The strength and strategic fit of each of potential acquirers lead to the owners of Biokinetics to consider bids from 6 different companies. In the end, Bermuda-based Foster Wheeler proved to be the winner.
Umberto della Sala, President and Chief Operating Officer of Foster Wheeler Ltd. commented, "This acquisition is part of Foster Wheeler's overall strategy to complement organic growth with highly targeted acquisitions. We believe that the combination of our two companies' skills and experience will add value to pharmaceutical companies developing projects in the U.S. and internationally." This acquisition enabled Foster Wheeler to re-establish its position in the North American pharmaceutical market and strengthens its position relative to key US pharmaceutical companies seeking to invest in the US and globally.
The owners of Biokinetics decided to accept the offer from Foster Wheeler because they believed that the acquisition would provide the market presence and capitalization to utilize their skills throughout the world. The synergies between the two companies ensured that Biokinetics and its staff would have a bright future and a stronger overall footprint in all major pharmaceutical producing countries.
About Biokinetics
Biokinetics was established in 1996 and is a recognized industry leader in process systems design for the biopharmaceutical industry, with expertise in bioprocess unit operations including fermentation, mammalian cell culture, bioreactors, bacterial and yeast fermentation recovery, live and attenuated virus processing for vaccines and plasma-derived products; associated processing and support systems; pharmaceutical fill-finish and materials handling; process simulation and optimization; modular process design; high-purity water systems; validation services. Biokinetics is headquartered in Philadelphia, PA, with additional operations in California and North Carolina in the USA and Carlow in Ireland. It has approximately 130 employees.
For more information about Biokinetics, please visit www.biokinc.com.
About Foster Wheeler
Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of engineering, procurement, construction, manufacturing, project development and management, research and plant operation services. Foster Wheeler serves the upstream oil and gas, LNG and gas-to-liquids, refining, petrochemicals, power, pharmaceuticals, biotechnology and healthcare industries. The company is based in Hamilton, Bermuda and its operational headquarters are in Clinton, New Jersey, USA.
For more information about Foster Wheeler, please visit www.fwc.com.
