DENVER, CO - Headwaters MB advised Ricerca Biosciences, LLC (“Ricerca” or the “Company”), on the sale of the Chemical Development Division of the Contract Research Organization (CRO)/Contract Development and Manufacturing Organization (CDMO) based in Concord, Ohio to Olon S.p.A. Ricerca Biosciences has been renamed Concord Biosciences following the sale of its Chemical Development business.
Ricerca is a leading US based CRO/CDMO supporting the development and manufacturing of APIs, intermediates and performance materials in support of biopharmaceutical clinical supply, market development and commercial distribution. Ricerca’s extensive process/synthetic chemistry, analytical chemistry and engineering experience and expertise provides a synergy with clients that results in reliably excellent first-time scale-ups and subsequent development of safe, reliable, robust and cost-effective manufacturing processes.
“We are excited that the scientific and operational excellence that has characterized Ricerca throughout its history will be continued under Olon’s ownership,” said Clifford W. Croley, CEO of Ricerca Biosciences. “The Headwaters MB team did an excellent job running and managing our process and their experience in the biopharmaceutical CMO/CMDO space was invaluable.”
Ricerca has seen significant growth over the last few years as it focused on the biopharmaceutical end-user market. Olon’s acquisition of Ricerca’s Chemical Development Division will greatly benefit the Olon and its customer base, especially when combined with its large-scale manufacturing capabilities in Europe. The employees and senior operating management of Ricerca’s Chemical Development Division will remain with the unit following the acquisition.
“The ownership and management team of Ricerca has done a remarkable job developing and growing Ricerca since acquiring it less than three years ago,” said Mike Ewing, Managing Director at Headwaters MB. “It’s a privilege to work with such a team and we are sure that the Ricerca CD Division will lead Olon to robust growth in the U.S.”
Terms of the transaction were not disclosed.