Donaldson Co Inc has acquired Solaris Biotechnology Srl, an Italian designer and manufacturer of bioprocessing equipment, including bioreactors, fermenters and tangential flow filtration systems, in a €41 million deal.
The Solaris product portfolio ranges from benchtop systems for research and development to pilot and commercial-scale manufacturing systems for use in food and beverage, biotechnology and other life sciences markets.
Founded in 2002, Solaris is headquartered in Porto Mantovano, Italy, with US operations in Berkeley, California. The company has around 30 employees, and projected 2021 revenue of approximately €5 million.
“We are excited about Solaris’ capabilities and growth trajectory, and this acquisition is an important step on our journey towards strengthening our presence in the life sciences market,” said Tod Carpenter, chairman, president and CEO of Donaldson. “With Solaris, we are well-positioned to provide more comprehensive solutions to food and beverage customers and expand our access to biopharma and other key life sciences markets.”
“By being part of Donaldson, we will have the global scale and financial flexibility to continue delivering on our growth plans, and we are thrilled about this opportunity,” said Matteo Brognoli, co-founder and CEO of Solaris. “Like Donaldson, Solaris is built on strong customer relationships and providing technologically advanced solutions. With the need for Solaris products expanding rapidly we are better able to meet the growing need while playing an important role in Donaldson’s expansion into life sciences.”
Brognoli will remain with Solaris as managing director with responsibility for day-to-day operations and continued growth of the business.