M&A Deal Summary

The Carlyle Group Acquires Unchained Labs

On April 26, 2021, private equity firm The Carlyle Group acquired test/measurement equipment company Unchained Labs from Novo Holdings A/S and TPG for 435M USD

Acquisition Highlights
  • This is The Carlyle Group’s 5th transaction in the Test/Measurement Equipment sector.
  • This is The Carlyle Group’s 92nd largest (disclosed) transaction.
  • This is The Carlyle Group’s 333rd transaction in the United States.
  • This is The Carlyle Group’s 51st transaction in California.

M&A Deal Summary

Date 2021-04-26
Target Unchained Labs
Sector Test/Measurement Equipment
Buyer(s) The Carlyle Group
Sellers(s) Novo Holdings A/S
TPG
Deal Type Secondary Buyout
Deal Value 435M USD
Advisor(s) J.P. Morgan Securities (Financial)
Cooley (Legal)

Target

Unchained Labs

Pleasanton, California, United States
Unchained Labs is a life science tools company focused on solving problems for biologics and gene therapy researchers. Unchained systems are used by biopharma researchers around the world to analyze and characterize large, complex molecules and to make their research jobs easier. Unchained Labs was founded in 2015 and is based in Pleasanton, California.

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Buyer(S) 1

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 698 of 749
Sector: Test/Measurement Equipment M&A 5 of 6
Type: Secondary Buyout M&A Deals 111 of 130
State: California M&A 51 of 54
Country: United States M&A 333 of 350
Year: 2021 M&A 10 of 28
Size (of disclosed) 92 of 137
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 Liberty Tire Recycling

Pittsburgh, Pennsylvania, United States

Liberty Tire Recycling is a provider of tire recycling services in North America. Liberty collects and recycles used tires for innovative, beneficial re-use. The recycled rubber produced by Liberty is used as crumb rubber and industrial feedstock for molded products; as tire-derived fuel for industrial kilns, mills, and power plants; and as rubber mulch for landscaping and playgrounds. The company maintains a network of processing plants and comprehensive, nationwide collection services. Liberty Tire Recycling was formed in 2002 and is based in Pittsburgh, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-04 Lauderdale Marine Center

Ft. Lauderdale, Florida, United States

Lauderdale Marine Center is a premier US destination and service provider for the superyacht industry. Located in Fort Lauderdale on the New River, visible from I-95 and close to Fort Lauderdale/Hollywood International Airport, LMC is a 50-acre facility consisting of a boatyard, marina, and marine service center. It accommodates boats up to 200 feet with 19 covered sheds and 156 wet slips, has three marine travel lifts with a haul-out capacity of up to 330 tons, and features 7,000 linear feet of dockage. LMC’s business model includes leasing workspace and commercial office space to approximately 60 on-site contractors providing various marine-related services such as fiberglass repair, electrical, painting, brokerage, and insurance.

Sell $340M

Seller(S) 2

DESCRIPTION

Novo Holdings A/S is a Danish holding company and the investment arm of the Novo Nordisk Foundation. Novo Holdings' objective is to grow the assets of the Foundation and improve the lives of people around the world. In addition to investing in equity and fixed income securities, Novo Holdings pursues direct investments in life science companies. Novo Holdings A/S was established in 1999 and is headquartered in Hellerup, Denmark.


DEAL STATS #
Overall 1 of 2
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: California M&A 1 of 2
Country: United States M&A 1 of 2
Year: 2021 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-22 Altasciences

Laval, Quebec, Canada

Altasciences is a forward-thinking, mid-sized contract research organization offering pharmaceutical and biotechnology companies a proven, flexible approach to preclinical and clinical pharmacology studies, including formulation, manufacturing, and analytical services. Altasciences was founded in 1992 and is based in Laval, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-15 BBI Group

Crumlin, United Kingdom

BBI Group is a provider of immunoassay development and manufacturing services, and provides an extensive portfolio of products and technologies to the global diagnostic market. It provides products and services for the diagnostic, healthcare, research, defense, and food industries globally. BBI Group was formed in 1986 and is based in Crumlin, United Kingdom.

Buy £400M
SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 296.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 230 of 277
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Secondary Buyout M&A Deals 29 of 42
State: California M&A 57 of 64
Country: United States M&A 167 of 199
Year: 2021 M&A 4 of 18
Size (of disclosed) 51 of 73
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-20 Integrated Surgical Solutions

Alpharetta, Georgia, United States

Integrated Surgical Solutions is a provider of surgical cost management solutions, working with health plans, providers, surgical facilities, device manufacturers, and patients across the country to improve quality and reduce costs for surgical procedures through optimization of the most effective site of care and device selection, resulting in more affordable high-quality care to consumers. Integrated Surgical Solutions was formed in 2004 and is based in Alpharetta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-02 Boomi

Conshohocken, Pennsylvania, United States

Boomi is a cloud-based integration platform as a service (iPaaS) provider that enables seamless connectivity across applications, data, and systems. The company’s technology enables organizations to connect applications, processes and people across a range of locations and devices. Boomi is based in Conshohocken, Pennsylvania.

Buy $4.0B