What did Engine Capital Management buy in Avantor?

Engine Capital Management bought 14.2 million shares of Avantor during the third quarter.

How much is Engine Capital Management's stake in Avantor worth?

As of September 30, Engine Capital Management's stake in Avantor was valued at $246.1 million.

What does Avantor company do?

Avantor provides high-purity chemicals, laboratory supplies, and services to the life sciences and advanced technology sectors.

Home / Business and Economy / Engine Capital Boosts Avantor Stake by $172M

Engine Capital Boosts Avantor Stake by $172M

8 Dec

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Summary

Engine Capital Management bought 14.2 million Avantor shares.
The investment increased Engine Capital's stake by $172 million.
Avantor now comprises 29.2% of Engine Capital's managed assets.

Engine Capital Boosts Avantor Stake by $172M

New York City-based Engine Capital Management has substantially increased its investment in Avantor (NYSE: AVTR), disclosing the purchase of 14.2 million shares during the third quarter. This acquisition, valued at an estimated $172 million, significantly boosts Engine Capital's position in the company. Avantor now represents a substantial 29.2% of Engine Capital's total assets under management, highlighting the firm's strong conviction.

The investment firm's top holdings now feature Avantor prominently, with its stake valued at $246.1 million as of September 30. Other significant holdings include NATL, LNW, ACHC, and OFIX. This concentrated position in Avantor suggests a strategic focus on the company's future performance, despite recent market challenges.

Avantor, a global provider of mission-critical products and services, serves key sectors like biopharma, healthcare, and advanced technologies. The company's stock has faced headwinds, dropping 48% over the past year, significantly underperforming the S&P 500's 13% gain. Engine Capital's increased stake indicates a belief in Avantor's underlying value and potential for recovery.