M&A Deal Summary

Goldman Sachs Merchant Banking Acquires Aragen Life Sciences

On May 19, 2021, private equity firm Goldman Sachs Merchant Banking acquired life science company Aragen Life Sciences from ChrysCapital Management

Acquisition Highlights
  • This is Goldman Sachs Merchant Banking’s 4th transaction in the Life Science sector.
  • This is Goldman Sachs Merchant Banking’s 5th transaction in India.

M&A Deal Summary

Date 2021-05-19
Target Aragen Life Sciences
Sector Life Science
Buyer(s) Goldman Sachs Merchant Banking
Sellers(s) ChrysCapital Management
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)
Shardul Amarchand Mangaldas & Co. (Legal)

Target

Aragen Life Sciences

Hyderabad, India
website
Aragen Life Sciences is a provider of outsourced discovery, development, and manufacturing services across both large and small molecule platforms. Aragen Life Sciences was founded in 2001 and is based in Hyderabad, India.

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Buyer(S) 1

Buyer

Goldman Sachs Merchant Banking

New York, New York, United States

website


Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 171 of 178
Sector (Life Science) 4 of 6
Type (Secondary Buyout) 60 of 63
Country (India) 5 of 5
Year (2021) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 ProQuest

Ann Arbor, Michigan, United States

ProQuest is an information content and services company. ProQuest technologies serve users across the critical points in research, helping them discover, access, share, create and manage information. ProQuest was formed in 1938 and is based in Ann Arbor, Michigan.

Sell $5.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-20 AvaSure

Belmont, Michigan, United States

AvaSure is a provider of inpatient audiovisual monitoring telehealth solutions. AvaSure was founded in 2008 and is based in Belmont, Michigan.

Buy -

Seller(S) 1

SELLER

ChrysCapital Management

Port Louis, Mauritius

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1999
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ChrysCapital Management Co. is a private investment firm focused on opportunities in India. ChrysCapital looks for companies with revenues of $50 million to $1 billion and can commit up to $250 million of equity per transaction. Target sectors include business services, consumer goods and services, financial services, healthcare and pharmaceuticals. Prospective transactions include growth investments in private and listed companies, special situations, co-investments, and management buyouts/buy-ins. ChrysCapital was formed in 1999 and is based in Port Louis, Mauritius.


DEAL STATS #
Overall 26 of 26
Sector (Life Science) 2 of 2
Type (Secondary Buyout) 5 of 5
Country (India) 23 of 23
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-01 Dream Sports

Mumbai, India

Dream Sports is India’s largest sports technology company with brands such as Dream11 (India’s largest online sports fantasy platform), FanCode, DreamX, DreamSetGo, and DreamPay in its portfolio. Dream Sports is executing its vision of ‘Make Sports Better’ by providing multiple avenues for fans to deeply engage with the sports they love through fantasy sports, content, commerce, experiences, and events, among others.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-04 ResultsCX

Fort Lauderdale, Florida, United States

ResultsCX provides automation-enabled customer support, acquisition, enrollment, retention, membership assistance, technical support, and transaction processing services to companies across the healthcare, telecom and cable, media, and retail industries. ResultsCX was founded in 1990 and is based in Fort Lauderdale, Florida.

Buy -