Material Analytischer Service

The fund NORD Holding SmallCap GmbH & Co. KG (“NORD Holding Small Cap”), advised by NORD Holding UBG(“NORD Holding”), has acquired a majority stake in Material AnalytischerService (M.A.S.) GmbH (“M.A.S.”), based in Freiburg, as part of a successionsolution. With NORD Holding’s involvement, the provider of reference standards/ test kits for visual inspection mechanisms in parenteral drug production willfocus on establishing and expanding its sales organization,internationalization, and broadening its service portfolio.

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M.A.S. specializes in thedevelopment and supply of customized reference standards / test kits used toverify visual inspection mechanisms in the production of parenteralpharmaceuticals. These test kits are applied in pharmaceutical quality control(visual inspection of ampoules, vials, infusion bagsor pre-filledsyringes), in thequalification of manual inspection processes and in thevalidation of semi- and fully automated inspection systems, as well as intraining and testing programs. Based on the customer’s risk analysis, M.A.S.designs customized test kits that include both defect-free and intentionallydefective reference samples, precisely adapted to the specific requirements ofeach customer and their production setup.

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With over 25 years ofexperience, M.A.S. has built extensive expertise in the production ofcustomized test kits covering virtually all relevant defects for the visualinspection of parenteral drugs. With its technological capabilities anddistinctive differentiators, the company is an indispensable partner for BigPharma and CDMOs worldwide.M.A.S. supplies more than 165 customers worldwide, approximately 95% of whichare in the pharmaceutical industry. Through close collaboration with leadingBig Pharma companies, C(D)MOs, and major visual inspection equipmentmanufacturers, the company consistently sets new benchmarks in pharmaceuticalquality control.

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Given the expected marketgrowth, driven primarily by the rising demand for individualized parenteraldosage forms and the ongoing outsourcing trend among Big Pharma, M.A.S. intendsto continue its successful growth trajectory in partnership with NORD Holding.Dr. Swen Maas, CEO of M.A.S., comments: “We are pleased to have gained NORDHolding as an experienced partner for the next stage of our company’sdevelopment. Building on our position as the quality leader in this emergingmarket, we aim to further professionalize and scale our organization. With NORDHolding’s many years of experience in succession and growth financings, itsstrong expert network, and its hands-on approach, we are highly motivated torealize the numerous strategic growth opportunities together. Going forward,our customers will benefit from faster delivery times and a broader range ofservices.”     

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“We are very proud that ourinvestment in M.A.S. adds a highly specialized laboratory service provider toour portfolio and that we can shape the next phase of growth together. As ourfourth investment, M.A.S. is an ideal addition to our small cap fund andunderscores our focus on sustainable niche leaders,” says Jan Markus Drees, partner at NORD Holding.

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Johannes Fleck, Principal atNORD Holding, adds: “With its leading expertise in reference standard testkits and its technological differentiation, M.A.S. has established itself as anindispensable partner to the pharmaceutical industry. Building on new frameworkagreements and strong customer loyalty, we see significant potential toposition the company as an internationally leading pharma outsourcing partnerfor reference standard test kits and to drive the consistent expansion of itsservice portfolio.”‍

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On behalf of NORD Holding, the transaction was executed by Jan Markus Drees,Johannes Fleck, Margarita Decker and Sven Langelahn.

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Advisory firms involved in thetransaction by NORD Holding:

Commercial: Singular Group AG, Dr. Hans Lindner Consulting

Financial: AURICON Audit GmbH Wirtschaftsprüfungsgesellschaft

Legal: act AC Tischendorf Rechtsanwälte Partnerschaft mbB

Tax: FRB-TAXKI Assessment: THconsult - Alexander Thiel

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About M.A.S.

M.A.S. is a German laboratoryservice provider specializing in customized reference standards / test kits forverifying visual quality control mechanisms in the pharmaceutical industry.Founded in 1997 as a spin-off from the University of Freiburg, the company hasestablished itself as a specialist for customized test kits. M.A.S. offers acomprehensive portfolio of defect and particle samples, manufactured preciselyaccording to customer specifications and accompanied by detailed documentation.Beyond its unique technological expertise and distinctive competitiveadvantages, M.A.S. maintains a comprehensive defect particle library thatenables comprehensive risk consulting for its customers.

For more information, please visit: www.ma-service.de