IPP Announces AGC Biologics Acquisition of AstraZeneca Boulder, CO Plant
PRINCETON JUNCTION, New Jersey, June 4, 2020 /PRNewswire/ -- International Process Plants (IPP), a global buyer and seller of pharmaceutical and biopharmaceutical manufacturing facilities and equipment, announced its client AGC Biologics' successful Q2/20 purchase of a state-of-the-art commercial biopharmaceutical facility in Boulder, Colorado, U.S.A.. The facility, formerly owned by AstraZeneca, will provide AGC Biologics with additional commercial-scale manufacturing capacity for its biopharmaceutical CDMO business when it enters operation in April 2021, more than 18 months sooner than a new-build facility.
AGC Biologics and IPP began working together in mid-2019 on a quest to purchase an existing state-of-the-art biopharmaceutical manufacturing facility in order to significantly shorten capacity expansion lead time and CAPEX as compared with a new greenfield facility. Using IPP's over 40 years of experience and 160,000 global contacts across the manufacturing industry, IPP located the facility and advised AGC Biologics on its purchase of the idled AstraZeneca Boulder plant.
"IPP acted as the buyer's exclusive agent for AGC Biologics in their purchase from AstraZeneca," said Ron Gale, President of IPP. "We are glad to be working with AGC Biologics and wish them success for future operations at the site. At the core of our business, we create win-win scenarios for companies looking to exit an asset, companies looking to expand, and communities looking to continue and grow their workforce. We are confident that this outcome is a win for AGC Biologics as the buyer, Boulder and the region's skilled biopharma workforce, and a win for AstraZeneca as the seller."
"The addition of this Boulder facility supports AGC Biologics' company-wide expansion initiative, which demonstrates our dedication to support our customers' demand for mammalian projects, now and into the future," says AGC Biologics CEO Patricio Massera. "This facility will enable us to continue to advance the development, manufacturing and commercial functions within our dynamic global company."
In addition to IPP's robust small molecule pharmaceutical plant and equipment business, IPP is highly active in the large molecule biopharmaceutical manufacturing space, having conducted more than 6 facility asset transactions in the last 18 months globally. "Especially in light of the COVID-19 response, we have several large and small molecule production facilities and systems for end users to consider as they look to expand. IPP looks forward to participating in future transactions to both help companies move rapidly to increase capacity as well as help companies divest from unneeded assets in these challenging times."
About International Process Plants and Equipment Corp. (IPP):
International Process Plants and Equipment Corp. sells complete manufacturing plants and equipment. The company focuses on buying and selling assets in the pharmaceutical, biopharmaceutical, chemical, petrochemical and other process industries worldwide. It sells complete process plants; industrial real estate; and process equipment, including surplus, new/unused, rebuilt, reglassed, and used/second hand equipment. In the industry since 1976, IPP is based in Princeton Junction, New Jersey with offices and facilities in the US, Mexico, UK, India, Pakistan, France, Germany, Italy, Portugal, Czech Republic, Russia, Romania, Poland, and China. For more information, visit www.ippe.com
Press contact:
E-mail: info@ippe.com
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