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Press Releases AvantorⓇ to Acquire Ritter GmbH and its Affiliates ; Expands Proprietary Offering for Diagnostic and Drug Discovery Workflows - Ritter is a fast - growing , technology leader in high - precision consumables - Combines Ritter's liquid handling consumables platform for clinical diagnostic testing and life sciences research with Avantor's offerings for critical lab automation workflows and leading global customer channel - Transaction expected to be immediately accretive to Adjusted Earnings per Share ( EPS ) upon closure and anticipated to enhance Avantor's revenue growth and margin profile RADNOR , Pa . and SCHWABMÜNCHEN , Germany , April 12 , 2021 // -- Avantor , Inc. ( NYSE : AVTR ) , a leading global provider of mission - critical products and services to customers in the life sciences and advanced technologies & applied materials industries , announced today that it has entered into a definitive agreement to acquire privately held Ritter GmbH and its affiliates in an all - cash transaction with an upfront equity purchase price of approximately € 890 million subject to final adjustments at closing and additional payments based on achieving future business performance milestones . Headquartered in Schwabmünchen , Germany , Ritter is the fastest growing manufacturer of high- quality robotic and liquid handling consumables , including conductive tips engineered to exacting standards . These mission - critical consumables are used in a variety of molecular screening and diagnostic applications , including real - time polymerase chain reaction ( PCR ) , non - molecular assays such as immunoassays , emerging high - throughput in vitro diagnostics ( IVD ) technologies including next generation sequencing , and as part of drug discovery and clinical trial testing in pharma and biotech applications . Collectively , these applications represent a nearly $ 7 billion addressable market with attractive long - term growth potential . Ritter's high - precision manufacturing footprint includes 40,000 square meters of specialized production space and 6,000 square meters of ISO Class 8 cleanrooms that provides significant capacity for continued growth . Much of Ritter's current business is focused on serving diagnostic system providers and liquid handling OEMs . The geographic and commercial reach of Avantor's leading global channel and deep customer access will significantly enhance its revenue potential and provide broader aftermarket opportunities . " The acquisition of Ritter marks the next step in the ongoing transformation of Avantor , " said Michael Stubblefield , President and CEO of Avantor . " The combination will significantly expand our proprietary offering to the biopharma and healthcare end markets and significantly enhance Avantor's offerings for critical lab automation workflows . Our combined businesses also share similar characteristics including a highly recurring , specification - driven revenue profile and a consumable- driven portfolio of products produced to exacting standards that enhances our unique customer value proposition . " " This proposed transaction helps both parties , as well as existing and new customers , " said Johannes von Stauffenberg , CEO of Ritter . " Avantor's broad portfolio is used by thousands of scientists and laboratories in virtually every stage of the most important research , development and production