Investment Summary |
|
|---|---|
| Date | 2025-10-29 |
| Target | Clario |
| Sector | Medical Products |
| Investor(s) | Thermo Fisher Scientific |
| Sellers(s) |
Athyrium Capital Management
Nordic Capital Astorg Partners ATP Private Equity Partners Omnes Capital Cinven |
| Deal Type | Add-on Acquisition |
| Deal Value | 8.9B USD |
| Advisor(s) | Evercore Group (Financial) Latham & Watkins (Legal) |
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| Category | Company |
|---|---|
| Founded | 1956 |
| Sector | Test/Measurement Equipment |
| Employees | 122,000 |
| Revenue | 42.9B USD (2024) |
Thermo Scientific provides analytical instruments, laboratory equipment, software, services, consumables and reagents for better workflow solutions spanning sample preparation, sample analysis, and data interpretation. Thermo Fisher Scientific was founded in 1956 and is based in Waltham, Massachusetts.
| DEAL STATS | # |
|---|---|
| Overall | 65 of 65 |
| Sector: Medical Products M&A | 11 of 11 |
| Type: Add-on Acquisition M&A Deals | 56 of 56 |
| State: Pennsylvania M&A | 3 of 3 |
| Country: United States M&A | 41 of 41 |
| Year: 2025 M&A | 3 of 3 |
| Size (of disclosed) | 4 of 29 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-09-02 |
Sanofi - Sterile Fill-Finish & Packaging Site
Ridgefield, New Jersey, United States Sanofi - Sterile Fill-Finish & Packaging Site is a sterile fill-finish manufacturing site. |
Buy | - |
| Category | Asset Manager |
|---|---|
| Founded | 2008 |
| PE ASSETS | 4.6B USD |
| Size | Large |
| Type | Sector Focused |
Athyrium Capital Management is a large asset manager focused on the healthcare sector. Athyrium invests in a wide range of financial instruments including royalties, structured credit, and equities as well as select special situations. Athyrium Capital was established in 2008 and is headquartered in New York, New York.
| DEAL STATS | # |
|---|---|
| Overall | 12 of 12 |
| Sector: Medical Products M&A | 2 of 2 |
| Type: Add-on Acquisition M&A Deals | 5 of 5 |
| State: Pennsylvania M&A | 2 of 2 |
| Country: United States M&A | 11 of 11 |
| Year: 2025 M&A | 3 of 3 |
| Size (of disclosed) | 1 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-09-23 |
Alvogen
Pine Brook, New Jersey, United States Alvogen is a multinational pharmaceuticals company focused on developing, manufacturing, and distributing generic, brand, over-the-counter brands (OTC), and biosimilar products. Alvogen was founded in 2009 and is based in Pine Brook, New Jersey. |
Sell | $2.0B |
| Category | Private Equity Firm |
|---|---|
| Founded | 1989 |
| PE ASSETS | 31.0B EUR |
| Size | Mega |
| Type | Sector Agnostic |
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 | 80 of 80 |
| Sector: Medical Products M&A | 7 of 7 |
| Type: Add-on Acquisition M&A Deals | 25 of 25 |
| State: Pennsylvania M&A | 1 of 1 |
| Country: United States M&A | 4 of 4 |
| Year: 2025 M&A | 1 of 1 |
| Size (of disclosed) | 2 of 18 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-07-21 |
Arcadia
Boston, Massachusetts, United States Arcadia transforms diverse data into a unified fabric for health. Arcadia's platform delivers actionable insights for our customers to advance care and research, drive strategic growth, and achieve financial success. Arcadia was founded in 2002 and is based in Boston, Massachusetts. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1998 |
| PE ASSETS | 22.0B EUR |
| Size | Mega |
| Type | Sector Agnostic |
Astorg Partners is a private equity firm that targets small to midcap company investments primarily in France and to a limited extent, Western Europe. Astorg Partners looks for companies valued between €400 million and €2 billion, requiring at least €15 million in equity. Areas of interest include healthcare, retail, distribution, hospitality, and professional services. Prospective transaction situations include leverage build-ups, divestitures, family transitions, and secondary buyouts. Astorg Partners was formed in 1998 and is based in Paris and has additional offices in London and Luxembourg.
| DEAL STATS | # |
|---|---|
| Overall | 35 of 35 |
| Sector: Medical Products M&A | 3 of 3 |
| Type: Add-on Acquisition M&A Deals | 8 of 8 |
| State: Pennsylvania M&A | 1 of 1 |
| Country: United States M&A | 2 of 2 |
| Year: 2025 M&A | 1 of 1 |
| Size (of disclosed) | 1 of 12 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-05-07 |
Solabia Group
Paris, France Solabia Group is a manufacturer of natural active ingredients for the cosmetic, pharmaceutical, nutraceutical and microbiology industries. Solabia also produces culture media, supplements, detection kits and peptones for the food testing and pharmaceutical industries. Solabia Group was founded in 1972 and is based in Paris, France. |
Buy | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 2001 |
| PE ASSETS | 10.0B EUR |
| Size | Mega |
| Type | Sector Agnostic |
ATP Private Equity Partners is a Danish institutional investment firm focused on investing in private equity funds across Europe, North America, and select emerging markets. The Firm is supported by ATP, Denmark's largest pension fund. In addition to investing in private equity funds, ATP also looks to for co-investment situations. ATP Private Equity Partners was formed in 2001 and is headquartered in Copenhagen, Denmark.
| DEAL STATS | # |
|---|---|
| Overall | 35 of 35 |
| Sector: Medical Products M&A | 1 of 1 |
| Type: Add-on Acquisition M&A Deals | 13 of 13 |
| State: Pennsylvania M&A | 1 of 1 |
| Country: United States M&A | 15 of 15 |
| Year: 2025 M&A | 1 of 1 |
| Size (of disclosed) | 1 of 7 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2024-11-18 |
Anaqua
Boston, Massachusetts, United States Anaqua is a provider of integrated, end-to-end innovation and intellectual property management software (IPMS) solutions. Anaqua was founded in 2004 and is based in Boston, Massachusetts. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 2004 |
| PE ASSETS | 5.7B EUR |
| Size | Mega |
| Type | Sector Agnostic |
Omnes Capital formerly known as Credit Agricole Private Equity (CAPE) is the investment arm of financial services group Credit Agricole. Omnes Capital looks to invest in a range of investment stages and transaction types, including LBO/expansion, venture capital, mezzanine, renewable energy, co-investment, infrastructure, and special situations. The Firm's LBO/expansion group looks to invest €25 to €80 million to support growth initiatives and buyouts of small and mid-cap businesses operating in a variety of industries. Omnes Capital generally invests in businesses operating in France and Italy. Omnes Capital's mezzanine area was formed in 2002 and looks to provide €5 to €30 million of junior capital to similar sized established businesses. In addition to Omnes Capital's traditional equity and subordinated debt investment arm, the Firm also invests in infrastructure projects as well as provides capital for distressed businesses with €10 to €150 million in revenue. Omnes Capital was formed in 2004 and is based in Paris.
| DEAL STATS | # |
|---|---|
| Overall | 118 of 118 |
| Sector: Medical Products M&A | 3 of 3 |
| Type: Add-on Acquisition M&A Deals | 53 of 53 |
| State: Pennsylvania M&A | 2 of 2 |
| Country: United States M&A | 8 of 8 |
| Year: 2025 M&A | 1 of 1 |
| Size (of disclosed) | 1 of 17 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2024-11-18 |
Anaqua
Boston, Massachusetts, United States Anaqua is a provider of integrated, end-to-end innovation and intellectual property management software (IPMS) solutions. Anaqua was founded in 2004 and is based in Boston, Massachusetts. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1977 |
| PE ASSETS | 39.0B EUR |
| Size | Mega |
| Type | Sector Agnostic |
Cinven is a private equity firm focused on buyout investments in growing, profitable businesses located throughout Europe and North America. Sectors of interest include business and financial services, healthcare, industrial, retail, leisure, consumer, technology, media, and telecommunications. Cinven looks to invest a minimum of €200 million in companies with minimum enterprise values of €400 million. Cinven does not invest in start-ups or development phase companies. Cinven was established in 1977 and is headquartered in London.
| DEAL STATS | # |
|---|---|
| Overall | 130 of 130 |
| Sector: Medical Products M&A | 3 of 3 |
| Type: Add-on Acquisition M&A Deals | 33 of 33 |
| State: Pennsylvania M&A | 2 of 2 |
| Country: United States M&A | 13 of 13 |
| Year: 2025 M&A | 3 of 3 |
| Size (of disclosed) | 1 of 26 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2025-09-01 |
Stada
Bad Vilbel, Germany Stada is a developer and marketer of active pharmaceutical ingredients for the health care and pharmaceutical markets worldwide. Stada was founded in 1895 and is based in Bad Vilbel, Germany. |
Sell | - |
