Avantor says the acquisition will strengthen its offer across monoclonal antibodies, cell and gene therapy and mRNA: as well as supporting both therapy and vaccine manufacturing including COVID-19.
Founded in 1955 and headquartered in Vernon Hills, Illinois, Masterflex has projected 2022 revenues of approximately $300m.
"The acquisition of Masterflex reflects our commitment to the biopharma industry, and our ability to identify and execute on value-creation opportunities," said Michael Stubblefield, President and CEO of Avantor, a Fortune 500 company and provider of products and services to customers in the biopharma and healthcare sectors.
"The business enhances our portfolio of proprietary technologies and strengthens our position in the highest growth segments of the market. Both Avantor and Masterflex share a strong culture of innovation and excellence, and we look forward to welcoming Masterflex's highly skilled team to the Avantor family."
Brian Barnett, President, Masterflex Bioprocessing added: "Avantor's broad portfolio is used in virtually every stage of the most important research, development and production activities.
"We are excited about combining our end-to-end fluid management solution with Avantor's comprehensive portfolio of process ingredients, chromatography resins and excipients for Biopharma customers worldwide."
Since 2011, Avantor has completed 43 acquisitions, deployed more than $11bn in capital and generated over $350m in EBITDA synergies.