Avantor Inc., which announced Monday that it was moving its U.S. headquarters from Center Valley to downtown Allentown, today announced it has acquired VWR Corp. of Radnor for $6.5 billion
VWR is a provider of product, supply chain and service solutions to laboratory and production customers.
VWR will operate as a wholly-owned subsidiary of Avantor.
Avantor, which has 120 employees in the Lehigh Valley, is a global supplier of ultra-high-purity materials for the life sciences and advanced technology industries.
Michael Stubblefield, CEO of Avantor, will lead the combined company.
“The completion of this acquisition marks the beginning of an exciting new chapter for our combined organization,” Stubblefield said. “The new Avantor is a leading global provider of discovery-to-delivery solutions that offer more value to customers along with an additional layer of supply chain security.”
According to a press release, New Mountain Capital will be the lead shareholder of the combined company. As part of the transaction, the Goldman Sachs Merchant Banking Division is leading an equity investment in the company.
Avantor has been headquartered in Center Valley since 2011 when it moved from Lopatcong Township, N.J.
The company plans to move its headquarters to Allentown by mid-2018. It will be in the Allentown Neighborhood Improvement Zone, in a City Center Investment Corp. property known as Tower 6 that is under construction. Businesses in the zone receive tax incentives.
“We look forward to contributing to the transformation of downtown Allentown while continuing our commitment to the Lehigh Valley community,” Stubblefield said. “It’s a smart move for our business.”
The building at 600 Hamilton Street is expected to be open in May.
The building also will be home to Talen Energy Corp., which will be moving from the PPL Plaza building down the street in center city.