Benzinga | Jun 22, 2021 07:20AM EDT

Repligen To Buy Polymem For An Undisclosed Sum

* Repligen Corporation (NASDAQ:RGEN) has agreed to acquire France-based Polymem S.A., a provider of hollow fiber membranes and modules.

* "The acquisition significantly expands our hollow fiber membrane and module production capabilities and adds core R&D, engineering, and production expertise in hollow fiber technology for both industrial and bioprocessing markets," Tony J. Hunt, President and CEO of Repligen, said.

* Jean-Michel Espenan and Franc Saux will stay on with the company in their respective president and technical director roles.

* The acquisition is expected to close during Repligen's Q3 of 2021.

* Repligen intends to use its cash on hand to fund the transaction, which totaled approximately $711 million on March 31, 2021.

* Additional financial details were not disclosed.

* Perella Weinberg Partners LP is acting as a financial advisor.

* Price Action: RGEN shares closed at $196.14 on Monday.