Charles River to draw from revolver for $212 million Celsis purchase

By Wendy Van Sickle

Columbus, Ohio, July 9 – Charles River Laboratories International, Inc. will draw from its revolving credit facility to fund its $212 million acquisition of bacterial testing firm Celsis International Ltd., according to a press release.

The purchase will also be partly funded with available cash.

Charles River said it expects to close on the transaction in the third quarter of 2015.

Charles River said it expects the acquisition to represent about 1% of its 2015 consolidated revenue and about 2.5% of 2016 consolidated revenue. The company will not assume any of Celsis’ debt or cash balances.

Based in Chicago, Celsis provides rapid bacterial detection systems for quality control testing in the biopharmaceutical and consumer products industries.

Charles River is a Wilmington, Mass.-based drug development company.

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