Astorg-backed Oxoid Remel to carve out Solabia microbiology unit

Oxoid Remel, a supplier of diagnostic consumables and equipment used in microbiological testing, has agreed to carve out the microbiology diagnostics division of Solabia. Both companies are portfolio companies of the European private equity firm Astorg.

Astorg is the sponsor on both sides of the transaction, with Solabia selling the division to Oxoid Remel. No financial terms were disclosed.