logo
  

Caledonia Agrees Terms To Divest Its Holding In BioAgilytix To Cinven

Caledonia Investments plc (CLDN.L), on Wednesday, announced that the shareholders of portfolio company BioAgilytix, a provider of bioanalytical testing for large molecule research and development, have agreed terms of a majority investment in the company by international private equity firm Cinven.

Cinven's investment involves a sale of Caledonia's interest in BioAgilytix to Cinven. The company expects its gross proceeds to be about US$183 million, net of fees, and said the proceeds will be held for future investment. Caledonia's shareholding in BioAgilytix was valued by Caledonia at £51 million as at 30 September 2021.

The transaction is subject to US anti-trust approvals and is expected to complete in December 2021.

Tom Leader, Head of Caledonia Private Capital, said, "Caledonia's Private Capital strategy is to invest in high quality businesses with best-in-class management teams and BioAgilytix and Jim Datin exemplify the success of this approach. We are delighted with what the company has been able to achieve since we first invested, and would like to thank them as well as Peter Connolly and the Cobepa team, the lead investors. With Cinven's global footprint, significant resources and specialist healthcare expertise we believe BioAgilytix will continue to flourish."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Cryptocurrency Dogecoin's price jumped over 15% on Friday, but later lost some of the gains, after Tesla Inc. (TSLA) CEO Elon Musk announced that the luxury car maker will start accepting the meme cryptocurrency as payment for its merchandise. "Tesla merch buyable with Dogecoin," Musk tweeted on Friday. Dogecoin... US investment bank JPMorgan Chase & Co. reported Friday a profit for the fourth quarter that declined 14 percent from last year, hurt primarily by higher noninterest expense and lower credit reserve releases. Both adjusted earnings per share and revenues for the quarter topped analysts' expectations. Microsoft Corp. said its Board of Directors has initiated a review of the effectiveness of its workplace sexual harassment and gender discrimination policies and practices. The company has hired the law firm of Arent Fox to conduct the review mainly on sexual harassment investigations, including that of co-founder Bill Gates.
RELATED NEWS
Follow RTT