M&A Deal Summary

Apax and Pamlico Capital Acquire Prometheus Laboratories

On January 1, 1999, private equity firms Apax and Pamlico Capital acquired life science company Prometheus Laboratories

Acquisition Highlights
  • This is Apax’s 1st and Pamlico Capital’s 1st transaction in the Life Science sector.
  • This is Apax’s 4th and Pamlico Capital’s 6th transaction in the United States.
  • This is Apax’s 1st and Pamlico Capital’s 1st transaction in California.
Investment Fate
  • Prometheus Laboratories was sold to a consortium of financial buyers in 2007.
  • Prometheus Laboratories was sold to a strategic buyer in 2011.

M&A Deal Summary

Date 1999-01-01
Target Prometheus Laboratories
Sector Life Science
Buyer(s) Apax
Pamlico Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Prometheus Laboratories

San Diego, California, United States
Prometheus Laboratories, Inc. is a specialty pharmaceutical and diagnostic testing company.

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Buyer(S) 2

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 77.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from $1 to $5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 9 of 266
Sector: Life Science M&A 1 of 7
Type: Buyout (LBO, MBO, MBI) M&A Deals 6 of 62
State: California M&A 1 of 22
Country: United States M&A 4 of 107
Year: 1999 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-01 Merlin Entertainments

Poole, United Kingdom

Merlin Entertainments is an entertainments company. Merlin runs 124 attractions in 25 countries across four continents. Merlin Entertainments was formed in 1999 and is headquartered in Poole, England.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-07-01 Thomson Directories

Farnborough, United Kingdom

Thomson Directories Limited publishes business listings in print and online formats.

Buy -
Buyer

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 6 of 87
Sector: Life Science M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 5 of 21
State: California M&A 1 of 4
Country: United States M&A 6 of 82
Year: 1999 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-01 Comsys IT Partners

Houston, Texas, United States

Comsys IT Partners, Inc. is an IT services company offering contingent and direct hire placement of IT professionals and a wide range of technical services and solutions addressing requirements across the enterprise.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2000-01-01 Inner City Broadcasting

New York, New York, United States

Inner City Broadcasting Corp. is a radio broadcasting company.

Buy -