Frederica, Delaware – ILC Dover, Inc. (“ILC Dover”, “ILC” or the “Company”), a leading designer and manufacturer of high-performance materials for life critical and primarily life sciences-based applications, today announced the acquisition of KSE Scientific (“KSE”), a sterile solutions manufacturer which specializes in the production of Water for Injection (WFI) and related media and buffer solutions for biopharma, cell & gene therapy, tissue banking and medical device end-markets. Founded in 2000 and headquartered in Durham, North Carolina, KSE has transformed into a leading supplier of sterile consumable products and will continue to operate under its own brand.
“Under the leadership of founder James Lally, KSE has built an exciting platform and shares in ILC Dover’s culture in providing consistent, repeatable and high-quality service to customers,” said Corey Walker, CEO of ILC Dover. “The acquisition accelerates ILC’s trajectory of becoming a market leader across the biopharmaceutical workflow and I look forward to working with the KSE team to further support the growth of both businesses.”
ILC and KSE have highly complementary product offerings and the combination creates significant growth opportunities by offering a broader and more integrated workflow solution to customers. Following the transaction, ILC will be able to provide custom cell-culture and bioprocess solutions within its own liquid bag containment solutions to better serve its customers within biopharma, cell & gene therapy, and related life sciences end markets.
“Our team at KSE Scientific has built a specialized WFI product offering for the life sciences end market, and we are excited to continue to grow and innovate our market leading capabilities in partnership with ILC Dover. The combination with ILC Dover provides KSE with a clear path to expand into biopharmaceutical end markets.” said James Lally, founder of KSE, who will remain with the Company. “I look forward to continuing to lead KSE as a part of ILC Dover, and remain committed to our deep heritage of delivering best-in-class service and tremendous product value to our existing customer base.”
Following the acquisition of Flexan earlier this year, KSE is the third acquisition ILC Dover has completed since announcing a partnership with New Mountain Capital in early 2020. The acquisition will continue to grow ILC Dover’s life sciences solutions for its global customer base, including for the pharmaceutical, biopharmaceutical, cell & gene therapy and medical device end markets.
About ILC Dover
ILC Dover is a world-leader in the innovative design and production of solutions for biopharmaceutical, pharmaceutical, medical device markets as well as a leading supplier for the (aero)space industries. Our customers will attest to our relentless dedication to high value products, advanced technology, and responsive service, as our visionary solutions have improved efficiency while safeguarding people, product, and infrastructure in hazardous conditions through flexible protective solutions since 1947. For more information on ILC Dover, please visit www.ilcdover.com
About New Mountain Capital
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity, and credit funds with over $35 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit www.newmountaincapital.com