Acquisition of Mallinckrodt Baker (USA) by New Mountain Capital to form Avantor Performance Materials
Deal Size: $280m
Phillipsburg, New Jersey – August 30, 2010 – An affiliate of New Mountain Capital, LLC(“New Mountain”) today announced the completion of its acquisition of Mallinckrodt Baker,Inc. (“MBI” or the “Company”) from Covidien (NYSE: COV) for approximately $280 million. Headquartered in New Jersey, MBI manufactures and markets high-purity chemicals and related services and products under two well-known and respected brand names, J.T.Baker® and Mallinckrodt® Laboratory Chemicals. These products are widely used in research and quality control laboratories, microelectronics, environmental testing laboratories and universities, and for manufacturing in the pharmaceutical, biotechnology and other industrial markets. Fiscal 2009 sales for MBI were $414 million.
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