M&A Deal Summary

Advantage Capital Partners and BioLife Solutions Acquire Stirling Ultracold

On March 22, 2021, growth capital firm Advantage Capital Partners and BioLife Solutions acquired medical products company Stirling Ultracold

Acquisition Highlights
  • This is Advantage Capital Partners’ 14th and BioLife Solutions’ 2nd transaction in the Medical Products sector.
  • This is Advantage Capital Partners’ 252nd and BioLife Solutions’ 5th transaction in the United States.
  • This is Advantage Capital Partners’ 9th and BioLife Solutions’ 1st transaction in Ohio.

M&A Deal Summary
Date 2021-03-22
Target Stirling Ultracold
Sector Medical Products
Buyer(s) Advantage Capital Partners
BioLife Solutions
Deal Type Add-on Acquisition

Target

Stirling Ultracold

Athens, Ohio, United States
Stirling Ultracold is a manufacturer of ultra-low temperature ("ULT") mechanical freezers. Stirling Ultracold also produces the industry's only portable ULT solution available for remote clinical trials and biologic drug delivery. Stirling Ultracold was founded in 2009 and is based in Athens, Ohio.

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Buyer(S) 2

Buyer

Advantage Capital Partners

New Orleans, Louisiana, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1992
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Advantage Capital Partners is a private equity firm focused on providing growth capital to a variety of companies. The Firm's geographic coverage includes Alabama, Colorado, Florida, Hawaii, Louisiana, Mississippi, Missouri, New York, Texas, Wisconsin and Washington DC. Advantage looks to initially commit $0.5 to $2 million per investment and can provide mezzanine debt in addition to equity capital. Areas of interest include communications, information technology, life science, and energy. Advantage Capital was formed in 1992 and is headquartered in New Orleans, Louisiana.

DEAL STATS #
Overall 254 of 271
Sector (Medical Products) 14 of 14
Type (Add-on Acquisition) 2 of 4
State (Ohio) 9 of 9
Country (United States) 252 of 269
Year (2021) 5 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-26 Caringo

Austin, Texas, United States

Caringo, Inc. is a software company that specializes in providing object storage software for both dynamic and archive uses. Caringo’s flagship product, Swarm, unlocks data from applications and hardware providing a foundation for data access and analysis that continuously evolves while guaranteeing data integrity. Caringo was founded in 2005 and is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 ITS

Reno, Nevada, United States

ITS is a global supplier of highly engineered cleaning materials supporting the semiconductor industry. ITS products are used for advanced probe cards at parametric test & wafer sort operations (PCC), test socket applications during package test (TCC) and chuck cleaning at front- and backend tools (CCW). ITS was founded in 1999 and is based in Reno, Nevada.

Sell -
Buyer

BioLife Solutions

Bothell, Washington, United States
Category Company
Founded 1987
Sector Life Science
Employees409
Revenue 143M USD (2023)
DESCRIPTION

BioLife Solutions is a developer, manufacturer and supplier of proprietary clinical grade cell and tissue hypothermic storage and cryopreservation freeze media for cells and tissues. Our proprietary HypoThermosol® and CryoStor® platform of solutions are highly valued in the regenerative medicine, biobanking and drug discovery markets. Our biopreservation media products are serum-free and protein-free, fully defined, and are formulated to reduce preservation-induced cell damage and death; offering commercial companies and clinical researchers significant improvement in shelf life and post-preservation viability and function. BioLife Solutions was founded in 1987 and is based in Bothell, Washington.

DEAL STATS #
Overall 5 of 6
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 4 of 5
State (Ohio) 1 of 1
Country (United States) 5 of 6
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-21 SciSafe

Cranbury, New Jersey, United States

SciSafe is a provider of biological materials storage to the cell and gene therapy and pharmaceutical industries. SciSafe was established in 2010 and is based in Cranbury, New Jersey.

Buy $39M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-09 Sexton Biotechnologies

Indianapolis, Indiana, United States

Sexton Biotechnologies is a revenue-stage, biotechnology company focused on the development and sales of bioproduction tools for cell and gene therapy. Sexton develops purpose-built cell and gene therapy (CGT) tools and media to enable flexible automation and scaling of cell manufacturing processes to increase the probability of positive clinical outcomes and reduce time-to-market, failure points and labor costs. Sexton Biotechnologies Indianapolis is based in Indianapolis, Indiana.

Buy -
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