S&R Associates represented New Mountain Capital on Indian legal aspects of the acquisition of the Applied, Food and Enterprise Services businesses from PerkinElmer, Inc.’s Discovery & Analytical Solutions segment.
New Mountain Capital, a growth-oriented investment firm with over $37 billion in assets under management has entered into a definitive agreement with the intention to acquire PerkinElmer’s Applied, Food and Enterprise Services businesses, a carve-out from the Discovery & Analytical Solutions segment of PerkinElmer, Inc., for up to $2.45 billion in total consideration.
The business being acquired includes PerkinElmer’s leading OneSource laboratory and field services, along with a portfolio of atomic spectroscopy, molecular spectroscopy, and chromatography instruments, consumables and reagents that serve the biopharma, food, environmental & safety and applied end markets. The PerkinElmer brand will be transferred with the business, and the transaction is expected to close in the first quarter of 2023, subject to regulatory approvals and other customary closing conditions.
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit, and net lease real estate funds with over $37 billion in assets under management. New Mountain seeks out what it believes to be the highest quality leaders in carefully selected “defensive growth” industry sectors and works intensively with management to build the value of these companies.
PerkinElmer is a leading, global provider of end-to-end solutions that help scientists, researchers and clinicians better diagnose disease, discover new and more personalized drugs, monitor the safety and quality of our food, and drive environmental and applied analysis excellence.
The S&R team was led by partner William Vivian John, and included partner Dhruv Nath and associates Siddhi Kudalkar, Arunima Vijay and Shubhangi Rai on corporate matters, and associates Riyan Vatcha and Chirali Jain on employment and real estate matters; partner Arpita Garg and associates Shekhar Shrivastava, Vedika Lakhotia and Ramkrishna Panigrahi on banking and finance matters; and partner Sumit Bansal and associates Shivani Chhabra and Taranjeet Singh on tax matters.