PerkinElmer, a leading global analytical services and solutions provider, today announced that it has acquired Covaris, a leading developer of solutions to empower life science innovations.
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The merger will accelerate Covaris’ growth potential and expand PerkinElmer’s existing life sciences portfolio into the high-growth diagnostics end market. Both companies are majority owned by New Mountain Capital, and terms of the transaction were not disclosed.
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“Covaris has a well-defined growth strategy with market-leading technologies and a very capable leadership team that will allow PerkinElmer to deepen its life sciences portfolio in the diagnostics end market. We see significant growth opportunities resulting from the combined resources of both companies, with PerkinElmer’s global scale unlocking commercial opportunities for Covaris”, said Dirk Bontridder, CEO of PerkinElmer.
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“We are excited to begin our new chapter as part of PerkinElmer, an exceptional brand that resonates in our core markets, and will allow us to bring our technology to more customers and expand our growth globally. Our two cultures are very similar and both our customers as well as our employees will benefit from strong R&D resources and complementary solution capabilities”, said Annemarie Watson, CEO of Covaris.
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Andre Moura, Managing Director at New Mountain Capital, said, “The combination of PerkinElmer and Covaris will bring significant benefits to the customers, employees, and stakeholders of both companies. Covaris will now have access to PerkinElmer’s global reach, technical and operating capabilities to continue its rapid growth trajectory. Covaris’ strong position in the genomics, transcriptomics, and proteomics space brings an exciting new growth vector to PerkinElmer. We look forward to continuing to work with management to build the combined company.”
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About PerkinElmer
PerkinElmer is a global analytical services and solutions provider with offerings including the leading OneSource Field and Laboratory services business that serve the biopharma, food, environmental, safety and applied end markets to accelerate scientific outcomes. Since 1937, PerkinElmer has served as a trusted partner in laboratory analysis and management and today complements its service offerings with a broad portfolio of atomic spectroscopy, molecular spectroscopy, and chromatography instruments, consumables, and reagents.
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