M&A Deal Summary

Thermo Fisher Scientific Acquires CorEvitas

On July 6, 2023, Thermo Fisher Scientific acquired life science company CorEvitas from Audax Private Equity for 913M USD

Acquisition Highlights
  • This is Thermo Fisher Scientific’s 22nd transaction in the Life Science sector.
  • This is Thermo Fisher Scientific’s 14th largest (disclosed) transaction.
  • This is Thermo Fisher Scientific’s 38th transaction in the United States.
  • This is Thermo Fisher Scientific’s 7th transaction in Massachusetts.

M&A Deal Summary

Date 2023-07-06
Target CorEvitas
Sector Life Science
Buyer(s) Thermo Fisher Scientific
Sellers(s) Audax Private Equity
Deal Type Add-on Acquisition
Deal Value 913M USD

Target

CorEvitas

Waltham, Massachusetts, United States
CorEvitas provides real-world evidence through syndicated registry data and analysis services, helping biopharmaceutical companies demonstrate the value of their products to clinicians, patients, payers, and regulators. Corona operates six major autoimmune registries across the US, Canada, and Japan, collecting data from over 500 participating investigator sites. CorEvitas was founded in 2001 and is based in Waltham, Massachusetts.

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Buyer(S) 1

Buyer

Thermo Fisher Scientific

Waltham, Massachusetts, United States

Category Company
Founded 1956
Sector Test/Measurement Equipment
Employees122,000
Revenue 42.9B USD (2023)
DESCRIPTION
Thermo Fisher's corporate headquarters in Waltham, Massachusetts.
Thermo Fisher's corporate headquarters in Waltham, Massachusetts.

Thermo Scientific is a provider of 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 61 of 62
Sector (Life Science) 22 of 23
Type (Add-on Acquisition) 54 of 55
State (Massachusetts) 7 of 7
Country (United States) 38 of 38
Year (2023) 2 of 3
Size (of disclosed) 14 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-21 MarqMetrix

Seattle, Washington, United States

MarqMetrix provides innovative and fit-for-purpose in-line Process Analytical Technology (PAT), offering customers a simplified method to make precise and accurate measurements throughout the manufacturing process for a wide range of applications, including biopharma and pharmaceuticals, oil and gas, and chemicals and polymers. MarqMetrix was founded in 2012 and is based in Seattle, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-17 Olink

Uppsala, Sweden

Olink provides leading solutions for advanced proteomics research and development, enabling biopharmaceutical companies and leading academic researchers to quickly and efficiently understand diseases at the protein level. Olink's proprietary technology, Proximity Extension Assay (PEA), enables high-throughput protein analysis for the very large installed base of qPCR and next-generation sequencing readout systems on the market. Olink was founded in 2016 and is based in Uppsala, Sweden.

Buy $3.1B

Seller(S) 1

SELLER

Audax Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Audax Private Equity is a private equity firm focused on acquiring control positions in a variety of mid to large North American headquartered companies. The Firm segments its activities into lower middle-market and larger scale investing. Within its larger group, Audax targets profitable businesses valued up to $800 million and within its lower middle-market group, the Firm seeks companies valued up to $125 million. Sectors of interest include business services, consumer products/services, financial services, healthcare services, industrial services, software, and technology. Audax has a special interest in businesses that can benefit from a buy and build investment strategy for growth. Audax Private Equity was formed in 1999 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 94 of 102
Sector (Life Science) 4 of 4
Type (Add-on Acquisition) 29 of 35
State (Massachusetts) 8 of 8
Country (United States) 89 of 97
Year (2023) 1 of 4
Size (of disclosed) 3 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-28 CW Advisors

Boston, Massachusetts, United States

CW Advisors is an independent registered investment advisor (“RIA”) offering wealth management and investment advisory services to high-net-worth individuals and families in the United States. CW Advisors was founded in 2009 and is based in Boston, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-11 Elgin Fastener Group

Wheeling, Illinois, United States

Elgin Fastener Group is a manufacturer of short-run, high-quality specialty fasteners for a diverse range of niche industrial end markets. Elgin Fastener Group was founded in 2002 and is based in Wheeling, Illinois.

Sell -