NuChem Sciences acquires OmegaChem
Maryam FaragBusiness Operations Industry Chemicals Manufacturing aquisition business operations Chemicals drug manufacturer manufacturing Quebec
NuChem Sciences, a drug discovery in chemistry contract research organization (CRO) located in Montréal, announced the acquisition of OmegaChem of Lévis, Québec.
As a result of this transaction, the new group formed by the two companies becomes Canada’s largest CRO in drug discovery in chemistry.
“We’re proud to join forces with OmegaChem to create the largest CRO in drug discovery and chemistry in Canada, with 200 experienced scientists and support staff,” said Marc LeBel, President, NuChem. “The new group will strengthen the position of both companies as they continue harnessing their expertise to run their operations.”
This acquisition was made possible by a total investment of $37.6 million from Fonds de solidarité FTQ ($17.4 million), Investissement Québec ($10.1 million) and BDC Capital ($10.1 million), in addition to HarveyCorp’s purchase of the buildings.
“We’re witnessing the creation of a promising company that will be a leader in its field,” said François Laflamme, President, OmegaChem. “Since both organizations are intensively recruiting right now, the transaction will not result in any job losses.”
“With a new integrated service offer and their capacity for complex projects, NuChem and OmegaChem are now better placed to face growing global competition. This transaction speaks to the vitality of the teams led by Marc LeBel and François Laflamme, as well as the Québec life sciences sector as a whole, and once again demonstrates our commitment to supporting Québec healthcare companies with development capital,” said Dany Pelletier, Executive Vice-President, Investments, Fonds de solidarité FTQ.