Masco Group strengthens its engineering technologies for the life sciences sector by acquiring a majority stake in KeyPlants AB.
The deal, of which no financial details have been disclosed, sees technological solutions provider Masco Group acquire Swedish firm Keyplants, which focuses on modular off-site construction for the life science industry.
“This partnership will strengthen Masco Group by combining its leadership in clean utilities and process technologies with KeyPlants’ expertise and innovative energy in prefabricated, modular facility solutions,†a spokesperson for Masco Group told BioProcess Insider.
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“KeyPlants’ vast experience and expertise results in 30-50% shorter timelines for customers and increased predictability with regards to schedule, cost, and quality.â€
According to Masco Group, the acquisition will also support its global supply chain challenges such as reliability, fast-track production timelines, flexibility, and contract development manufacturing organizations (CDMOs) focused on biologics, cell and gene therapies, and advanced therapy medicinal products (ATMPs).
“For Keyplants, the Masco Companies and German headquartered RSBG group will provide an enhanced financial and organisational backbone to serve better the existing projects as well larger greenfield or facility extensions of the client base. The transaction will also enable a growth platform for the parties ,leveraging the international manufacturing and commercial platforms of the companies involved,†the spokesperson said.
The firm claims fast-track facility solutions are now, more than ever, a vital aspect in the life science sector and its vision is to become a technology leading provider throughout the market.
“KeyPlants will enlarge Masco Group’s engineering and project integration capabilities, especially in the field of prefabricated, modular facility solutions.  KeyPlants is headquartered in Stockholm, Sweden where the majority of the engineering and project staff is located. The workshop is located in West Sweden and provides a fully integrated supply chain,†said Masco.