Avantor’s $4.37 Billion Initial Public Offering


Simpson Thacher represented Avantor, Inc., a portfolio company of New Mountain Capital, in connection with its initial public offering of common stock and its concurrent public offering of 6.25% Series A mandatory convertible preferred stock.

At total gross proceeds of approximately $4.37 billion, the transaction represented the largest healthcare IPO in U.S. history and the second largest IPO of 2019 to date.

Avantor (NYSE: AVTR) is a leading global provider of mission critical products and services to customers in the biopharma, healthcare, education & government, and advanced technologies & applied materials industries.

The Simpson Thacher team included Joe Kaufman (Picture), Ryan Bekkerus, Jessica Asrat, Ki Hoon Kim and Matt Petrone (Capital Markets); Sunny Cheong (Mandatory Convertible Preferred Stock); Shari Ness (Public Company Advisory Practice); Larry Moss, Jamin Koslowe and Jason Fixelle (Executive Compensation and Employee Benefits); John Creed and Sophie Staples (Tax); Adeeb Fadil and Noreen Lavan (Environmental); Lori Lesser and Alysha Sekhon (Intellectual Property) and Jennie Getsin (FINRA). Summer Associate Giovanna Robledo also provided valuable assistance.

Involved fees earner: Jessica Asrat – Simpson Thacher & Bartlett; Ryan Bekkerus – Simpson Thacher & Bartlett; Ki Hoon Kim – Simpson Thacher & Bartlett; Joseph Kaufman – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Avantor;

Author: Ambrogio Visconti