WilmerHale Advises PerkinElmer in $2.45B Deal with New Mountain Capital

WilmerHale Advises PerkinElmer in $2.45B Deal with New Mountain Capital

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On August 1, 2022, PerkinElmer, a global leader committed to innovating for a healthier world, announced that it has entered into an agreement to divest its Applied, Food and Enterprise Services businesses to New Mountain Capital, a leading growth-oriented private equity firm. The deal is valued at $2.45 billion in cash, $2.30 billion of which will be paid at closing and $150 million of which will be payable contingent on the exit valuation New Mountain Capital receives on a sale or other capital events related to the business.

Following the close of the transaction, PerkinElmer’s business will consist of its Life Sciences and Diagnostics businesses. The deal is expected to close in the first quarter of 2023, subject to customary closing conditions.

WilmerHale has represented PerkinElmer in a number of recent significant deals, including in the company’s $591M acquisition of Oxford Immunotec, its $800M offering of senior notes and its $5.25B acquisition of BioLegend.

The team advising PerkinElmer was led by Hal Leibowitz and Andrew Bonnes and included Tyler Carson, Judd Abramson, Caroline Gieryn and Mazen Osman, with assistance from Julie Hogan Rodgers, Benjamin Kelsey, Justin Ochs, Erika Robinson, Nathan Moore, Jana Douglas, Hartmut Schneider, Kirk Nahra, Scott Kilgore, Amy Null, Madeline Lewis, Bonnie Heiple, Steven Barrett, Mat Trachok, Barry Hurewitz, Jason Chipman and Matthew Ferraro in specialist areas.

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