M&A Deal Summary

KKR and Ampersand Capital Partners Acquire Biosynth Carbosynth

On November 1, 2021, private equity firm KKR and growth capital firm Ampersand Capital Partners acquired chemicals company Biosynth Carbosynth from Armira and Ampersand Capital Partners

Acquisition Highlights
  • This is KKR’s 5th and Ampersand Capital Partners’ 4th transaction in the Chemicals sector.
  • This is KKR’s 6th and Ampersand Capital Partners’ 1st transaction in Switzerland.

M&A Deal Summary

Date 2021-11-01
Target Biosynth Carbosynth
Sector Chemicals
Buyer(s) KKR
Ampersand Capital Partners
Sellers(s) Armira
Ampersand Capital Partners
Deal Type Secondary Buyout

Target

Biosynth Carbosynth

St. Gallen, Switzerland
website
Biosynth Carbosynth is a fully hybrid research products, life sciences reagents and custom synthesis and manufacturing services company with global research, manufacturing and distribution facilities. They are the supplier of choice for many in the pharmaceutical, life science, food, agrochemical, cosmetic and diagnostic sectors and manufacture and source a vast range of chemical and biochemical products. The company specializes in carbohydrates, nucleosides, phospholipids, enzyme substrates, antimicrobials, APIs and natural products and has a full range of reagents for protein production and analysis. Biosynth Carbosynth was formed in 1965 and is based in St. Gallen, Switzerland.

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Buyer(S) 2

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 389 of 429
Sector (Chemicals) 5 of 5
Type (Secondary Buyout) 85 of 103
Country (Switzerland) 6 of 6
Year (2021) 30 of 40
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-15 OVHcloud

Roubaix, France

OVHcloud is an IaaS (Infrastructure as a Service) provider specializing in cloud and internet infrastructure. Since its foundation, the business has grown rapidly to become a major provider of dedicated cloud infrastructure, with more than 250,000 servers in data centers across 19 countries. OVHcloud provides services to over a million customers globally and employs a team of more than 400 dedicated research & development engineers. OVHcloud was founded in 1999 and is based in Roubaix, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-03 Bettcher Industries

Birmingham, Ohio, United States

Bettcher Industries is a developer and manufacturer of innovative equipment in the food processing and medical device industries. The Bettcher portfolio includes the following: Bettcher, a designer, and manufacturer of handheld trimmers, tools, and cutting consumables for all protein applications; Cantrell-Gainco, a manufacturer of processing equipment and yield enhancement and yield tracking systems for various protein operations; ICB Greenline, an aftermarket replacement parts and services company focused on poultry processing; and, Exsurco Medical, a leading-edge medical device company that provides innovative products and services to transform surgical grafting, debridement, and recovery outcomes for patients with burn and trauma wounds. Bettcher Industries was founded in 1944 and is based in Birmingham, Ohio.

Buy -
Buyer

Ampersand Capital Partners

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1988
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Ampersand Capital Partners is a middle-market private equity group that concentrates on growth equity investment opportunities in the healthcare sector. The Firm looks to invest $10 to $100 million in businesses with $10 to $100 million of revenue. Specific areas of interests within healthcare include lab products, specialty diagnostic equipment, pharmaceutical outsourcing, and specialty pharma. Ampersand generally prefers to be the first and sole institutional investor. Ampersand was formed in 1988 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 63 of 79
Sector (Chemicals) 4 of 4
Type (Secondary Buyout) 3 of 5
Country (Switzerland) 1 of 1
Year (2021) 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-20 N2 Biomedical

Bedford, Massachusetts, United States

N2 Biomedical provides coating and surface treatment development and application services for implantable and other medical devices utilized in orthopedic, cardiovascular, and other healthcare end-markets. N2 Biomedical was founded in 2013 and is based in Bedford, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Adaptas Solutions

Palmer, Massachusetts, United States

Adaptas Solutions is a strategic OEM supplier for key products and manufacturing services for analytical and laboratory equipment manufacturers. Adaptas’ manufacturing vertical integration strategy allows for rapid to-market product development and best in class costing while delivering high-quality products and services. Adaptas Solutions was established in 1983 and is based in Palmer, Massachusetts.

Sell $271M

Seller(S) 2

DESCRIPTION

Armira is an investment holding focused on direct investments in mid-sized companies throughout Germany, Austria, and Switzerland. Broad areas of interest include business services and technology. Armira is headquartered in Munich, Germany.


DEAL STATS #
Overall 3 of 3
Sector (Chemicals) 1 of 1
Type (Secondary Buyout) 2 of 2
Country (Switzerland) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-09 Mehler Vario System

Munchen, Germany

M-Sicherheitsbeteiligungen GmbH is a manufacturer of ballistic protective equipment. The product portfolio includes an extensive range of high-quality ballistic protection vests, tactical equipment and clothing as well as ballistic protection solutions for vehicles. M-Sicherheitsbeteiligungen is based in Munchen, Germany.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 IK Multimedia

Modena, Italy

IK Multimedia designs and manufactures apps, software, hardware, and accessory products for music creation and playback on computers and mobile devices. The company has direct operating units in 7 countries: Italy, the United States, the United Kingdom, Japan, Mexico, Brazil, and Hong Kong. Its products are sold in over 120 countries with a network of 15,000 resellers and are used by millions of musicians worldwide. IK Multimedia was formed in 1996 and is based in Modena, Italy.

Buy -
SELLER

Ampersand Capital Partners

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1988
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Ampersand Capital Partners is a middle-market private equity group that concentrates on growth equity investment opportunities in the healthcare sector. The Firm looks to invest $10 to $100 million in businesses with $10 to $100 million of revenue. Specific areas of interests within healthcare include lab products, specialty diagnostic equipment, pharmaceutical outsourcing, and specialty pharma. Ampersand generally prefers to be the first and sole institutional investor. Ampersand was formed in 1988 and is based in Wellesley, Massachusetts.


DEAL STATS #
Overall 46 of 53
Sector (Chemicals) 3 of 3
Type (Secondary Buyout) 5 of 6
Country (Switzerland) 1 of 1
Year (2021) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-20 N2 Biomedical

Bedford, Massachusetts, United States

N2 Biomedical provides coating and surface treatment development and application services for implantable and other medical devices utilized in orthopedic, cardiovascular, and other healthcare end-markets. N2 Biomedical was founded in 2013 and is based in Bedford, Massachusetts.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-15 Adaptas Solutions

Palmer, Massachusetts, United States

Adaptas Solutions is a strategic OEM supplier for key products and manufacturing services for analytical and laboratory equipment manufacturers. Adaptas’ manufacturing vertical integration strategy allows for rapid to-market product development and best in class costing while delivering high-quality products and services. Adaptas Solutions was established in 1983 and is based in Palmer, Massachusetts.

Sell $271M