Azenta, Inc. entered into an agreement to acquire B Medical Systems S.à R.L. from Navis Capital Partners for approximately €460 million.
August 07, 2022
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Azenta, Inc. (NasdaqGS:AZTA) entered into an agreement to acquire B Medical Systems S.à R.L. from Navis Capital Partners for approximately €460 million on August 8, 2022. Under the terms, the cash purchase price to be paid at closing will be approximately €410 million. Additional cash consideration, up to €50 million, may be paid upon achievement of certain future performance milestones. B Medical generated approximately €110 million in revenue over the past twelve months ending June 30, 2022. Luc Provost, Chief Executive Officer of B Medical, and Jesal Doshi, Deputy Chief Executive Officer, are expected to join Azenta and continue to lead the business. The transaction is expected to close in October 2022. Jefferies Group LLC acted as financial advisor and Taylor Wessing LLP acted as legal advisor to Azenta. Navis Capital Partners is being advised by William Blair, BDA Partners, Allen & Overy, Deloitte, McKinsey & Company and ERM. Stephanie Keen, Danielle Wu, Nick Williams, Kaveeta Sandhu, Andrew Cobden, Alexander Koch, Gerard Neiens Jean-Philippe Monmousseau, Ariane Mehrshahi, Karen Hughes ,Fiona Bantock, Eduardo Ustaran, Jamie Rogers, Mark A. Kurtenbach, Richard Aftanas, Carin Carithers, Christine Lane, Ajay Kuntamukkala, Anthony V Capobianco, Scott T. Loughlin , Brian P Curran ,Anna Shaw, Sara Lenet of Hogan Lovells US LLP acted as legal advisor to Navis Capital Partners. Squires, Ben of Squire Patton Boggs acted as legal advisor to the management of sellers.
Azenta, Inc. is a provider of biological and chemical compound sample exploration and management solutions for the life sciences industry. The Companyâs segments include Sample Management Solutions, Multiomics and B Medical Systems. The Sample Management Solutions segment offers end-to-end sample management products and services, including sample and repository services and core products (automated stores, cryogenic systems, automated sample tube, and consumables and instruments). The Multiomics segment provides genomic and other sample analysis services, including gene sequencing and gene synthesis. B Medical Systems segment is focused on the manufacturing and distribution of temperature-controlled storage and transportation solutions in international markets to governments, health institutions, and non-government organizations. It provides products and services through its brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, Barkey, and B Medical Systems.
AZENTA, INC. 
