AAIPharma, Inc. Raises $20 Million in Connection With Acquisition
Published: Jan 16, 2012
Financial details are emerging regarding a recent deal in which Wilmington-based AAIPharma acquired Celsis Analytical Services.
Although neither company revealed the purchase price, AAIPharma, which employs 25 in Durham, raised $20 million in connection with the deal, according to a filing with the Securities and Exchange Commission.
The filing notes that the capital offering was made in connection with an acquisition and in the filing, AAIPharma adds specifically that it is for the, "Acquisition of all of the issued and outstanding capital stock of Celsis Analytical Services, Inc."
Technically, AAI Holdings Corp., which wholly owns AAIPharma Services Corp., made the SEC filing. The amount raised does not necessarily mean AAIPharma acquired Celsis for that amount, it means only that the company raised that much capital in relation to the deal.
AAIPharma's business centers around helping clients with pharmaceutical product development. Celsis Analytical Services, a division of Chicago-based Celsis International Ltd., performs material testing services for the pharmaceutical, biotechnology and manufacturing sectors. Celsis operates 65,000 square feet of laboratory facilities, which will be added to AAIPharma’s 300,000 square feet of facilities.