Engineering and construction firm Foster Wheeler has acquired 100% of Biokinetics Inc from MPA Holdings LP.
Biokinetics is a Philadelphia-based process systems design company servicing the life sciences industry.
Under the terms of the purchase agreement, the principals will continue as the senior leadership team of the company. Terms of the transaction were not disclosed.
With the acquisition, Foster Wheeler said it will expand its presence in the pharmaceuticals, biotechnology and health care market, and further enhance its existing biopharmaceutical skills base.
Foster Wheeler COO Umberto Della Salla
“The pharmaceuticals, biotechnology and healthcare market is a core market segment for Foster Wheeler and is one in which we are committed to growing our market share.”
“This acquisition is part of Foster Wheeler’s overall strategy to complement organic growth in our Global Engineering & Construction business with highly targeted acquisitions.
"This particular transaction enables us to expand our global presence in this sector and further enhance our existing biopharmaceutical skills base. We will be able to deliver comprehensive and responsive capabilities to existing, as well as new, clients, anywhere in the world.
"We have already established an excellent working relationship with Biokinetics and believe that the combination of our two companies’ skills and experience will add value to pharmaceutical companies developing projects in the US and internationally.”
Biokinetics shareholders were advised by Mark Sapsford.
About Foster Wheeler
Foster Wheeler Ltd. is a global company offering, through its subsidiaries, a broad range of engineering, procurement, construction, manufacturing, project development and management, research and plant operation services. Foster Wheeler serves the upstream oil and gas, LNG and gas-to-liquids, refining, petrochemicals, power, pharmaceuticals, biotechnology and healthcare industries.
The company is based in Hamilton, Bermuda and its operational headquarters are in Clinton, New Jersey, USA.
About Biokinetics
Biokinetics was established in 1996 and is now a recognized industry leader in process systems design for the biopharmaceutical industry, with expertise in bioprocess unit operations including fermentation, mammalian cell culture, bioreactors, bacterial and yeast fermentation recovery, live and attenuated virus processing for vaccines and plasma-derived products; associated processing and support systems; pharmaceutical fill-finish and materials handling; process simulation and optimization; modular process design; high-purity water systems; validation services. Biokinetics is headquartered in Philadelphia, PA, with additional operations in California and North Carolina in the USA and Carlow in Ireland. It has approximately 130 employees. For more information about Biokinetics, please visit www.biokinc.com.
MPA Holdings LP is a Delaware limited partnership owned by the three principals of Biokinetics: William Brydges, James Dougherty and Anthony Contino. Under the terms of the purchase agreement they will continue as the senior leadership team of the company.
