Avantor, a life sciences products and services company in Radnor, is normally involved in merger and acquisitions activity, but it’s been keeping a low profile more recently.
That is about to change, writes John George for Philadelphia Business Journal.
“This business, it’s driven off of technology and where our customers are going,” said
CEO Michael Stubblefield. “For us to be relevant, we need to help solve our customers’ most challenging problems.”
Avantor is making sure it has the right technologies to do that by developing them at its new $40 million innovation center that opened Thursday in Bridgewater, New Jersey.
The new center is double the size of the old one and will be home to more than 50 Avantor scientists and engineers.
Avantor’s also looking at mergers and acquisitions to achieve those goals.
It had $4 billion in acquisitions in 2021, then slowed its activity in recent years to absorb those acquisitions, Stubblefield said.
“We’re getting close to where we want to be, and [acquisitions] are an important part of our playbook. Whether that happens in 2025 or 2026, we’ll see, but it will continue,” he said.
Read more about Avantor’s new innovation center and its plans going forward in The Philadelphia Business Journal.
