Siegfried, a leading global contract development and manufacturing organization (CDMO) for the pharmaceutical industry, has signed binding agreements to acquire the drug substance businesses of Noramco Group and Extractas Bioscience from an affiliate of SK Capital Partners.

The deal brings three high-quality small-molecule drug substance sites into Siegfried’s portfolio, including: Noramco, a commercial-scale manufacturing facility in Wilmington, Delaware (US); Purisys, a clinical API development and manufacturing site in Athens, Georgia (US); Extractas Bioscience, a purified product manufacturer based in Westbury, Tasmania (AU).

The acquisition marks a significant milestone in Siegfried’s EVOLVE+ strategy, expanding the company’s presence and production capacity in the US, the world’s largest pharmaceutical market.

Siegfried plans to grow its exclusive synthesis business by optimizing controlled substance capacity at the Wilmington site and nearby Pennsville facility. Combined with Purisys’ early-phase development capabilities and Extractas’ extraction expertise, the acquisition strengthens Siegfried’s integrated offering and provides a strong foundation for accelerating growth and boosting profitability.

Marcel Imwinkelried, Chief Executive Officer, said: “This transaction marks a decisive next step in the execution of our EVOLVE+ strategy and is aligned with our highly selective, disciplined value accretive approach to M&A.

"By adding exceptional US-based capabilities, we will become even more attractive to both existing and new customers, creating new opportunities to accelerate profitable growth. The combined capacity and expertise of the three sites strengthen our position as a leading CDMO for small-molecule drug substances, and I look forward to fully realizing this value together with our new colleagues.”

The acquired business is valued at below 10 times Enterprise Value/EBITDA. Siegfried will finance the transaction through a mix of existing and new debt instruments. Subject to customary closing conditions, the deal is expected to close later this year.