M&A Deal Summary

Goldman Sachs Merchant Banking Acquires Aragen Life Sciences

On May 19, 2021, private equity firm Goldman Sachs Merchant Banking acquired life science company Aragen Life Sciences from ChrysCapital

Acquisition Highlights
  • This is Goldman Sachs Merchant Banking’s 4th transaction in the Life Science sector.
  • This is Goldman Sachs Merchant Banking’s 5th transaction in India.

M&A Deal Summary
Date 2021-05-19
Target Aragen Life Sciences
Sector Life Science
Buyer(s) Goldman Sachs Merchant Banking
Sellers(s) ChrysCapital
Deal Type Secondary Buyout
Advisor(s) Jefferies (Financial)
Shardul Amarchand Mangaldas & Co. (Legal)

Target

Aragen Life Sciences

Hyderabad, India
Aragen Life Sciences is a provider of outsourced discovery, development, and manufacturing services across both large and small molecule platforms. Aragen Life Sciences was founded in 2001 and is based in Hyderabad, India.

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Buyer(S) 1

Buyer

Goldman Sachs Merchant Banking

New York, New York, United States
Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.

DEAL STATS #
Overall 171 of 181
Sector (Life Science) 4 of 6
Type (Secondary Buyout) 60 of 65
Country (India) 5 of 5
Year (2021) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 ProQuest

Ann Arbor, Michigan, United States

ProQuest is an information content and services company. ProQuest technologies serve users across the critical points in research, helping them discover, access, share, create and manage information. ProQuest was formed in 1938 and is based in Ann Arbor, Michigan.

Sell $5.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-20 AvaSure

Belmont, Michigan, United States

AvaSure is a provider of inpatient audiovisual monitoring telehealth solutions. AvaSure was founded in 2008 and is based in Belmont, Michigan.

Buy -

Seller(S) 1

SELLER

ChrysCapital

Port Louis, Mauritius

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1999
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ChrysCapital Management Co. is a private investment firm focused on opportunities in India. ChrysCapital looks for companies with revenues of $50 million to $1 billion and can commit up to $250 million of equity per transaction. Target sectors include business services, consumer goods and services, financial services, healthcare and pharmaceuticals. Prospective transactions include growth investments in private and listed companies, special situations, co-investments, and management buyouts/buy-ins. ChrysCapital was formed in 1999 and is based in Port Louis, Mauritius.

DEAL STATS #
Overall 26 of 32
Sector (Life Science) 2 of 4
Type (Secondary Buyout) 5 of 7
Country (India) 23 of 27
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 WOW Skin Science

Bangalore, India

WOW Skin Science is one of India’s fastest growing new-age consumer companies. As a nature-inspired homegrown beauty brand, WOW Skin Science is committed to curating safe and natural personal care products. From packaging to formulation, WOW Skin Science focus on natural, plant-based, sustainable materials that are free from harsh chemicals. The paraben and sulphate free formulations make WOW Skin Science a favourite across all consumer verticals. WOW Skin Science was founded in 2014 and is based in Bangalore, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-11 Infogain

Los Gatos, California, United States

Infogain is a provider of front-end, customer-facing technologies, processes, and applications in the USA, Europe, the Middle East, Asia Pacific, and India. The Company offers solutions for the high-tech, retail, and insurance verticals in areas such as software product engineering, service automation, and mobility. Infogain was founded in 1990 and is based in Los Gatos, California.

Sell -
Mergr

Product

Company

Legal