M&A Deal Summary

Ampersand Capital Partners Acquires Gannet BioChem

On December 2, 2024, growth capital firm Ampersand Capital Partners acquired life science company Gannet BioChem from Nektar

Acquisition Highlights
  • This is Ampersand Capital Partners’ 43rd transaction in the Life Science sector.
  • This is Ampersand Capital Partners’ 69th transaction in the United States.
  • This is Ampersand Capital Partners’ 2nd transaction in Alabama.

M&A Deal Summary

Date 2024-12-02
Target Gannet BioChem
Sector Life Science
Buyer(s) Ampersand Capital Partners
Sellers(s) Nektar
Deal Type Divestiture

Target

Gannet BioChem

Huntsville, Alabama, United States
Gannet BioChem is a specialty CDMO specializing in the development, scaling, and manufacturing of polyethylene glycol (PEG) reagents essential components in advanced biopharmaceutical and therapeutic products. Gannet BioChem is based in Huntsville, Alabama.

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Buyer(S) 1

Buyer

Ampersand Capital Partners

Wellesley, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1988
PE ASSETS 3.0B 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 84 of 86
Sector: Life Science M&A 43 of 43
Type: Divestiture M&A Deals 6 of 6
State: Alabama M&A 2 of 2
Country: United States M&A 69 of 70
Year: 2024 M&A 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-06 Avid Bioservices

Tustin, California, United States

Avid Bioservices is a CDMO focused on development and CGMP manufacturing of biologics. The Company provides a comprehensive range of process development, CGMP clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries. Avid Bioservices is based in Tustin, California.

Buy $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-17 Lexington Medical

Bedford, Massachusetts, United States

Lexington Medical is a minimally invasive surgical stapling solutions provider, using its AEON Endostapler sets the standard for precision, performance, and clinical outcomes. Rooted in an engineering-driven and talent-dense, collaborative culture, it drives continuous innovation through U.S.-based design and manufacturing, working closely with leading surgeons to enhance patient outcomes. Lexington Medical was formed in 2013 and is based in Bedford, Massachusetts.

Buy -

Seller(S) 1

SELLER

Nektar

San Francisco, California, United States

Category Company
Founded 1990
Sector Life Science
Employees137
Revenue 98M USD (2024)
DESCRIPTION

Nektar is a clinical-stage biopharmaceutical company developing a pipeline of drug candidates that utilize its PEGylation and polymer conjugate technology platforms, which are designed to improve the benefits of drugs for patients. Nektar was founded in 1990 and is based in San Francisco, California.


DEAL STATS #
Overall 2 of 2
Sector: Life Science M&A 2 of 2
Type: Divestiture M&A Deals 2 of 2
State: Alabama M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2024 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-04 Nektar - Commercial PEGylation Reagent Manufacturing Business

Huntsville, Alabama, United States

Nektar's Commercial PEGylation Reagent Manufacturing Business site is a 124,000-square-foot, commercial-scale specialized manufacturing facility. Nektar's Commercial PEGylation Reagent Manufacturing Business is based in Huntsville, Alabama.

Sell $90M