Exyte acquires TTP Group to accelerate growth of Biopharma and Life Sciences business
The goal is to create a strong partner for the booming European biotechnology and pharmaceutical industry
Exyte, a global leader in the design, engineering, and delivery of high-tech facilities, intends to acquire TTP Group ("TTP"), a leading firm in consulting and engineering for the pharmaceutical and chemical industry in Europe. TTP's portfolio encompasses a wide range of Engineering Services, from feasibility studies, basic and detailed engineering, to construction management, as well as commissioning, qualification, and validation services. Exyte and the financial investor Robus Capital along with minority shareholders of TTP have signed the respective definite agreements. The purchase price has been agreed to remain confidential. The transaction is subject to the necessary regulatory approvals.
TTP is a specialized and a trusted partner for blue-chip clients in the biotech, pharma and chemical industries in Europe. The company, through its two operational brands 'Pharmaplan' and 'Triplan,' covers the entire service spectrum from Engineering to Procurement, Construction Management, and Validation. Exyte will combine TTP's operations with its own Biopharma and Life Sciences activities in Europe. The goal is to create a strong partner for the booming European biotechnology and pharmaceutical industry.
TTP executes a variety of projects, ranging from revamps of existing plants to the realization of future plants. The company has a strategic footprint in Europe and maintains a network of 27 locations in Austria, Belgium, France, Germany, and Switzerland. In 2023, about 1,000 employees generated sales of some €170 million. In the coming years, TTP intends to continue the strong profitable growth of recent years.
"By combining TTP's engineering expertise with Exyte's project execution capabilities, we will establish a robust presence in the biotech and pharma sector in Europe. This will enable us to offer clients the full range of collaboration, from strategic planning to the delivery of biotechnology and pharma facilities. With the planned acquisition, Exyte expands its position as a global player in the pharma market, strengthening its footprint in Europe. TTP's employees are experienced and specialized experts, including engineers, architects, and project managers. Their expertise and innovative spirit will make a significant contribution to Exyte's sustainable, profitable growth. We look forward to welcoming them soon to the Exyte team," says Dr. Wolfgang Büchele, CEO of Exyte.
"TTP and Exyte share the same values and the ambition to offer innovative and sustainable solutions to their customers. Together, we will continue our growth trajectory in the booming pharmaceutical facilities market. The combination of our strengths is a positive signal for our customers. We look forward to a shared future with Exyte," says Dr. Andreas Bonhoff, CEO of the TTP Group.
Investments in facilities due to megatrends and technological advancements
Investments in production facilities in the pharmaceutical sector are expected to continue to rise in the coming years. Population growth and aging lead to increasing demands for medical substances and products. In addition, technical innovations such as mRNA technology and the securing of supply chains require new and additional manufacturing capacities. Investments in existing and new facilities are also necessary due to increasing sustainability requirements. Short time-to-market, flexibility, and digital solutions are central elements in the engineering and construction of new facilities.
"The pharmaceutical industry, in particular, is facing exciting times ahead. Companies have many promising prospects on the horizon, with groundbreaking cell and gene therapies becoming increasingly available. With the acquisition of TTP, Exyte strengthens its presence in Europe. Together we will deliver sustainable high-tech facilities to improve the health and wellbeing of the world's population," says Ronan Donohue, President of Exyte's Global Business Unit Biopharma and Life Sciences.
Strategic expansion of Biopharma and Life Sciences
The Global Business Unit Biopharma and Life Sciences is the second-largest segment of Exyte by sales. Revenue of Biopharma and Life Sciences reached €580 million in 2023. The order intake grew by 12 percent to €650 million. As part of the "Next Level" agenda, the segment's revenue is expected to continue growing, with its share of total sales increasing further. In the medium term, Exyte's business segment Biopharma and Life Sciences plans to achieve more than €1.5 billion in revenue. Recently, Exyte completed the fastest greenfield drug substance facilities ever built. Less than 22 months passed from the start of concept design to the validation of the first production line in a mRNA competence center in Germany.
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