Novo Holdings Acquires Majority Stake in Single Use Support
May 14, 2024
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ShowThe Danish company Novo Holdings has acquired a 60% majority stake in the Austrian-based company Single Use Support, thereby strengthening the company's further growth on a global level.
KUFSTEIN, 15 May 2024 - Founded seven years ago by Johannes Kirchmair and Thomas Wurm, Single Use Support has rapidly established itself as a reliable global player in the biopharmaceutical industry, supplying the largest companies in the sector. Customers from all over the world already rely on the innovative process solutions from the Tyrolean company.
On course for global growth
At the turn of the year, the two founders stepped back from operational business and handed over the reins to the new CEO Christian Praxmarer, who had previously held various management roles in the company for several years. The opening of the newest location in the USA in March 2024 also marked a milestone for further expansion in the American market.
The next important step for the steadily growing team at Single Use Support is now being taken. The new majority owner Novo Holdings is supporting the joint expansion of a stronger global presence, with a focus on the target markets of the USA and Asia.
Reliable partner for the future
Johannes Kirchmair and Thomas Wurm will continue to hold a minority stake in the company: ‘With Novo Holdings, we have been able to bring a long-term and stable partner on board. We look forward to supporting its continued success from an advisory perspective in the future.’
The high level of interest in the company’s shares highlighted the value of a reliable partner. Novo Holdings was selected as a new partner due to its strong industry connections.
Johan Hueffer, Senior Partner, Principal Investments, Novo Holdings, said: ‘We are pleased to announce the acquisition of a majority stake of Single Use Support, an innovative technology leader with tremendous complementarity to the Novo Holdings ecosystem. This transaction marks an important addition to our fast-growing Life Science Tools & Diagnostics portfolio and represents our first control investment in the DACH region, a vital hub for life sciences. This investment also underscores our commitment to advancing leading healthcare therapies and technologies.’
Single Use Support now employs almost 200 people at its sites in Kufstein, Hall in Tirol and Lexington, Massachusetts (USA). The company is committed to continued expansion and is always on the lookout for new employees to drive innovation in the industry.
About Single Use Support
Single Use Support is a pioneering process solution provider specializing in fluid and cold chain management of drug substances. The company focuses on the development of solutions to provide manufacturers with 100% safe and efficient handling, liquid transfer, freezing and cold chain shipping of advanced therapies and biologics in pharmaceutical production. Founded in 2017, the company made its way to a highly respected innovation leader in a fast growing market and serves customers globally. Single Use Support is headquartered in Kufstein/Austria and also operates from a US subsidiary in Lexington MA. Approximately 200 associates globally ensure that innovation continuous and products and services simplify the life of global biopharma and advanced therapies clients.
About Novo Holdings A/S
Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (formerly Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, Asia, Bioindustrial and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development. As of year-end 2023, Novo Holdings had total assets of EUR 149 billion.
www.novoholdings.dk
About the Novo Nordisk Foundation
Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.
www.novonordiskfonden.dk/en
Pictures:
- Founders & CEO from Single Use Support - Thomas Wurm, Co-Founder (l.), Christian Praxmarer, CEO (m.), Johannes Kirchmair, Co-Founder (r.)
- Logo of majority stakeholder Novo Holdings
