Aalto Bio to receive war chest for M&A deals as firm is acquired

The medtech company provides raw materials, including proteins, antigens and antibodies, to the global diagnostics sector

Philip Noone, the managing director of Aalto Bio, which provides raw materials to the global diagnostics sector, said the company’s ‘ultimate goal is to become the global provider of critical raw materials for diagnostics and vaccine development’. Picture: Terry McDonagh

Aalto Bio, which makes raw materials for diagnostic tests for infectious diseases, has been acquired in a multimillion-euro deal that will result in a combined entity with revenues of €100 million and around 450 staff.

Biosynth Carbosynth, a Swiss-headquartered company backed by KKR, a global investment firm, has bought Aalto for an undisclosed sum. It is to provide it with a war chest to make a large number of bolt-on acquisitions as it looks to ...