Radnor Company Sold For $6 Billion

RADNOR, PA – A Radnor business that specializes in lab chemicals, glass, and instruments has been sold. The price tag: more than $6 billion.

Radnor's VWR International was recently acquired by another Pennsylvania-based company, Avantor Performance Materials.

VWR CEO Manuel Brocke-Benz said the sale valued the company at $6.4 billion, which includes stocks, the outlet reports.

About 10,000 people work for VWR, both in the U.S. and internationally, and as of Friday it's unclear if and how many layoffs could occur, as will any potential plant closings or consolidations, according to Philly.com.

Goldman Sachs, Jefferies LLC, and Barclays are acting as financial advisors to Avantor in the acquisition.

"Avantor's acquisition of VWR will create a major consumables-focused solutions and services provider to the high-growth life sciences and advanced technologies industries, as well as education, government, and research institutions across the globe," a press release states. "The acquisition will build on each company's strengths, including Avantor's cGMP manufacturing processes, significant exposure to emerging markets and VWR's significant position across the Americas and Europe."

Brocke-Benz said the deal will help the companies "serve the growing needs of laboratory and production customers around the world."

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