GTCR Completes Significant Sale of Antylia Scientific
GTCR Completes Sale of Antylia Scientific
GTCR, a prominent player in the private equity landscape, has achieved a significant milestone by completing the sale of Antylia Scientific. This strategic move follows a decade of transformative growth under GTCR's leadership strategy, reinforcing the firm's commitment to partnering with management teams to unlock their full potential in the life sciences sector.
Transaction Details
The sale of Antylia Scientific to Brookfield Asset Management and CDPQ was finalized for an impressive valuation of approximately $1.34 billion. This deal underlines the remarkable progress Antylia has made in its core markets, which include biopharmaceuticals, clinical diagnostics, and environmental testing.
Antylia's Growth Journey
Antylia Scientific, previously known as Cole-Parmer Instrument Company, has undergone significant evolution since GTCR acquired the company in 2014 from Thermo Fisher Scientific. The firm has strategically invested substantial capital to augment Antylia's geographic footprint and broaden its suite of essential lab products, bioprocessing tools, and critical life science reagents. The company has successfully integrated 15 acquisitions that complement its core offerings, further enhancing its foothold in the life sciences market.
Success Stories
Notably, in late 2021, Antylia divested its Masterflex bioprocessing business segment for $2.9 billion to Avantor Inc. This strategic decision was pivotal, showcasing Antylia's ability to innovate and adapt to market demands, ultimately transforming its operations into a prime asset for supporting biologics and vaccine production.
Leadership Perspectives
Sean Cunningham, Managing Director and Head of Healthcare at GTCR, expressed pride in the transformation achieved through the partnership. He recognized the profound impact of Antylia's leadership and their collective efforts to drive success. Meanwhile, Dean Mihas, GTCR Co-CEO, acknowledged the unique position Antylia holds within the life sciences sector and conveyed confidence in the company's ongoing progress.
Future of Antylia Scientific
Looking ahead, Jonathan Salkin, CEO of Antylia, emphasized the collaborative spirit that has fueled the company's growth. He expressed gratitude for GTCR's support and shared excitement for the future of Antylia as it continues to innovate and lead in the life sciences industry.
Advisors' Role
Goldman Sachs and Jefferies played significant roles as financial advisors during this transaction, while Kirkland & Ellis provided legal counsel to Antylia, navigating the complexities involved in such a sizable deal.
About GTCR
Founded in 1980, GTCR has established itself as a leader in private equity, with a particular focus on transformative growth across various sectors, including Business & Consumer Services and Healthcare. Over its operational history, GTCR has invested more than $30 billion in over 280 companies, now overseeing more than $45 billion in equity capital. With offices in key markets, GTCR continues to seek opportunities that drive significant value creation.
About Antylia Scientific
Antylia Scientific is a notable player in the life sciences tools landscape, providing essential products to various sectors, including pharmaceuticals and environmental markets. The company's diverse portfolio features respected brands known for innovation in environmental testing and diagnostics. By offering cutting-edge solutions, Antylia remains committed to advancing scientific discovery and contributing to public health.
Frequently Asked Questions
What is the latest news about GTCR?
GTCR has successfully completed the sale of Antylia Scientific, marking a significant achievement in their strategic portfolio management.
How much was Antylia Scientific sold for?
Antylia Scientific was sold for approximately $1.34 billion as part of the deal with Brookfield Asset Management and CDPQ.
What industries does Antylia Scientific serve?
Antylia Scientific serves various markets, including biopharmaceuticals, clinical diagnostics, and environmental testing.
Who were the advisors involved in this transaction?
Goldman Sachs and Jefferies acted as financial advisors, while Kirkland & Ellis served as legal counsel for Antylia during the sale.
What is GTCR's investment strategy?
GTCR focuses on transformative growth by partnering with management leaders to build and enhance market-leading companies through strategic investments and acquisitions.
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