M&A Deal Summary

Thermo Fisher Scientific Acquires Binding Site

On October 31, 2022, Thermo Fisher Scientific acquired life science company Binding Site from Nordic Capital and Five Arrows for 2.3B GBP

Acquisition Highlights
  • This is Thermo Fisher Scientific’s 21st transaction in the Life Science sector.
  • This is Thermo Fisher Scientific’s 5th largest (disclosed) transaction.
  • This is Thermo Fisher Scientific’s 3rd transaction in the United Kingdom.

M&A Deal Summary

Date 2022-10-31
Target Binding Site
Sector Life Science
Buyer(s) Thermo Fisher Scientific
Sellers(s) Nordic Capital
Five Arrows
Deal Type Add-on Acquisition
Deal Value 2.3B GBP

Target

Binding Site

Birmingham, United Kingdom
Binding Site is a specialist protein company committed to the research, development, manufacture and distribution of innovative immunodiagnostic assays for the global laboratory market. Binding Site was founded in 1983 and is based in Birmingham, United Kingdom.

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Buyer(S) 1

Buyer

Thermo Fisher Scientific

Waltham, Massachusetts, United States

Category Company
Founded 1956
Sector Test/Measurement Equipment
Employees80,000
Revenue 32.2B USD (2020)
DESCRIPTION
Thermo Fisher's corporate headquarters in Waltham, Massachusetts.
Thermo Fisher's corporate headquarters in Waltham, Massachusetts.

Thermo Scientific is a provider of analytical instruments, laboratory equipment, software, services, consumables and reagents for better workflow solutions spanning sample preparation, sample analysis, and data interpretation. The Company was formed in 1956 and is based in Waltham, Massachusetts. Thermo Fisher Scientific was founded in 1956 and is based in Waltham, Massachusetts.


DEAL STATS #
Overall 59 of 62
Sector (Life Science) 21 of 23
Type (Add-on Acquisition) 52 of 55
Country (United Kingdom) 3 of 3
Year (2022) 1 of 1
Size (of disclosed) 5 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-30 PeproTech

Cranbury, New Jersey, United States

PeproTech is a provider of bioscience reagents known as recombinant proteins, including cytokines and growth factors. Recombinant proteins are used in the development and manufacturing of cell and gene therapies as well as in broader cell culture applications, especially for use in cellular research models. PeproTech was founded in 1988 and is based in Cranbury, New Jersey.

Buy $1.9B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-21 MarqMetrix

Seattle, Washington, United States

MarqMetrix provides innovative and fit-for-purpose in-line Process Analytical Technology (PAT), offering customers a simplified method to make precise and accurate measurements throughout the manufacturing process for a wide range of applications, including biopharma and pharmaceuticals, oil and gas, and chemicals and polymers. MarqMetrix was founded in 2012 and is based in Seattle, Washington.

Buy -

Seller(S) 2

SELLER

Nordic Capital

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1989
PE ASSETS 30.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Nordic Capital is a private equity investment firm that targets mid to large-sized company investments located in Northern Europe as well as the US. Nordic seeks investments across a wide range of industries and prefers situations where there are 'opportunities for new industrial combinations, strategic repositioning, international expansion and operational improvements'. Nordic Capital was formed in 1989 and is based in Stockholm, Sweden.


DEAL STATS #
Overall 73 of 78
Sector (Life Science) 6 of 6
Type (Add-on Acquisition) 22 of 24
Country (United Kingdom) 3 of 3
Year (2022) 2 of 2
Size (of disclosed) 1 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-18 Cary Group

Stockholm, Sweden

Cary Group provides repair and replacement services to automotive glasses. Cary Group was formed in 1947 and is based in Stockholm, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-19 corpuls

Kaufering, Germany

corpuls has been developing and manufacturing innovative high-end devices for emergency and intensive care medicine for more than 40 years. It develops defibrillators, monitoring devices, and chest compression devices for cardiac resuscitation, as well as digital solutions in telemedicine and quality management. corpuls is based in Kaufering, Germany.

Buy -
SELLER

Five Arrows

Paris, France

Investor Investor Investor Investor Investor


Category Private Equity Firm
PE ASSETS 24.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Five Arrows Principal Investments is a mid-cap investor in Western European companies. Five Arrows can invest across the capital structure (equity, equity-linked, mezzanine, convertible debt) and generally focused on primary or secondary buyouts, growth financings, and balance sheet restructurings. The Group does not have any sector preferences, but typically looks for businesses with high barriers to entry and predictable earnings. Five Arrows can commit €30 to €400 million per investment. Five Arrows is a unit of Rothschild Bank. The Group has offices in Paris, Luxembourg, and London.


DEAL STATS #
Overall 22 of 25
Sector (Life Science) 1 of 1
Type (Add-on Acquisition) 2 of 2
Country (United Kingdom) 5 of 6
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-01 BioPhorum Operations

Sheffield, United Kingdom

BioPhorum Operations is a provider of digital collaboration platform for biopharmaceutical companies globally. BioPhorum Operations Group was founded in 2008 and is based in Sheffield, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-08 A2Mac1

Boulogne Billancourt, France

A2Mac1 is an automotive competitive benchmarking data and intelligence that provides a proven track record of delivering high quality and mission-critical data to unlock key insights to more than 500.000 professionals across the entire automotive value chain from OEM, OES, Tier 1, and Tier 2 supplier to Universities, Consulting firms and Raw Materials provider. A2Mac1 was founded in 1997 and is based in Boulogne Billancourt, France.

Sell -