Windjammer Capital Acquires Bio X Cell
A Leading Producer of Monoclonal Antibodies
WALTHAM, Mass. and NEWPORT BEACH, Calif. – Dec. 13, 2023 - Windjammer Capital Investors ("Windjammer"), a national private equity investment firm focused on control equity investments in middle-market businesses, today announced the acquisition of Bio X Cell, LLC ("BXC" or the "Company") in partnership with management. Terms of the transaction, which closed November 6, were not disclosed.
Bio X Cell is a leading producer of monoclonal antibodies (mAbs) for use in both in vivo and in vitro pre-clinical research applications. Founded by Dr. Klaus Lubbe in 1997 as a contract manufacturer of antibodies, BXC has evolved to become the only pure-play in vivo mAbs manufacturer of scale, providing “off-the-shelf”, ultra-pure, low endotoxin antibodies.
“We are thrilled to partner with Klaus and team,” said Craig Majernik, Managing Director at Windjammer. “We believe Bio X Cell is the ‘gold standard’ in RUO in vivo antibodies and particularly well positioned to take advantage of the secular growth trends in the life science tools industry. A tremendous opportunity exists to accelerate organic growth by building on the Company’s strong product foundation and expand its addressable market through a thesis-driven acquisition strategy.”
The Company’s portfolio of 400+ functional grade antibodies are used by 1,500+ academic, government and commercial customers in a wide range of research areas including cancer, immunology and neuroscience, reflected in more than 20,000 research publication citations. BXC supplies RUO mAbs to customers in more than 50 countries throughout the Americas, Europe and Asia.
“Our mission to advance scientific discovery and innovation depends on our ability to provide the highest quality products and exceptional customer service,” said Klaus Lubbe, Bio X Cell’s founder and CEO. “The Windjammer team was quick to understand how our Company culture, including respect for our employees and the community we live and work in, has contributed to our success. We are excited to enter the next stage of BXC’s evolution together.”
“BXC’s niche market leadership and mission critical, low cost-to-value product offering reflect the business model characteristics that have always been core to our investment strategy,” added Greg Bondick, Managing Principal at Windjammer.
Moelis & Company LLC acted as exclusive financial advisor to Windjammer, and Kirkland & Ellis provided legal counsel.
Achelous Partners, LLC acted as exclusive financial advisor to Bio X Cell, and Devine Millimet provided legal counsel.
About Windjammer
Windjammer Capital is a national private equity investment firm based in Newport Beach, CA and Waltham, MA that invests control equity in middle-market businesses and in partnership with management. Windjammer has over $3 billion of committed capital with respect to its control equity investment strategy, and since inception has completed over 60 platform investments and more than 160 strategic add-ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance. To learn more visit windjammercapital.com.
Please contact Craig Majernik (cmajernik@windjammercapital.com) or Greg Bondick (gbondick@windjammercapital.com) with any inquiries related to the acquisition