Agilent Technologies Inc. completed its acquisition of BIOVECTRA Inc., a Canada-based contract development and manufacturing organization, from H.I.G. Capital for a purchase price reported as US$925 million. The transaction was announced on July 22, 2024, when Agilent Technologies Inc. said it had signed a definitive agreement to acquire BIOVECTRA Inc., a specialized CDMO producing biologics, highly potent active pharmaceutical ingredients and other molecules for targeted therapeutics. The acquisition was intended to expand Agilent Technologies Inc.’s end-to-end biopharma offerings, including sterile fill-finish services, pDNA and mRNA capabilities, lipid nanoparticle formulation, antibody drug conjugates, HPAPIs, GLP-1 capabilities and gene-editing support. 

The deal closed on September 20, 2024, after all closing conditions were completed, including receipt of regulatory approvals. Following completion, BIOVECTRA Inc. became part of Agilent Technologies Inc.’s Diagnostics and Genomics Group, and the acquisition was funded using a mix of cash on hand and debt financing. H.I.G. Capital announced completion of the sale on September 23, 2024, describing BIOVECTRA Inc. as a portfolio company it had acquired in November 2019. DLA Piper advised Agilent Technologies Inc., while McDermott Will & Emery advised H.I.G. Capital.