Albany Molecular Research (AMRI) said today it has agreed to be acquired by affiliates of The Carlyle Group and GTCR for about $922 million cash in a deal that continues consolidation among contract development and manufacturing organizations (CDMOs).

Founded in 1991, AMRI is a global contract research and manufacturing organization offering services across the drug development pathway, from target discovery and lead optimization through formulation development and sterile fill/finish.

In recent years, AMRI has expanded through acquisitions. Last year, AMRI bought Prime European Therapeuticals (Euticals), an active pharmaceuticals ingredients (API) manufacturer, for approximately $358 million. And in 2015, AMRI acquired Gadea Pharmaceutical Group for $174 million, in a deal intended to expand the buyer’s portfolio of APIs, as well as its presence outside the U.S. 

“This transaction is a strong endorsement of our strategy,” AMRI president and CEO William S. Marth said in a statement. “Given their deep healthcare industry expertise and financial resources, Carlyle and GTCR are highly attractive partners for us and offer a compelling opportunity to accelerate our growth and enhance delivery of world-class solutions to our customers.”

The biggest consolidation deal among CDMOs was announced last month, when Thermo Fisher Scientific said it planned to acquire Patheon for approximately $7.2 billion from affiliates of JLL Partners and Royal DSM.  However, an even bigger deal may be brewing, as speculation emerged earlier this year that LabCorp was in talks to acquire

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