Unilever Ventures sells BAC to Life Technologies
Unilever Ventures has sold its stake in BAC to Nasdaq-listed Life Technologies, which had revenues of USD3.7bn in 2011, in a deal advised on by mid-market advisory firm Clearwater Corporate Finance.
Netherlands-based BAC specialises in the discovery, development and manufacture of protein purification products. The company has been acquired by global biotechnology business Life Technologies for an undisclosed sum.
The acquisition will expand Life Technologies’ capabilities and product offering in the growing market of biopharmaceutical research and manufacturing.
The team at Clearwater comprised partner Philip Nuttall and senior healthcare analyst Ramesh Jassal, with support of director Nick Horrocks, who advised Unilever Ventures on the sale.
Nuttall says: “This deal is the second cross border sale on which we have advised Unilever Ventures in the last 13 months. Both transactions involved the disposal of a business with low revenues, but with recently developed intellectual property and knowhow, to global strategic purchasers.”
Andrew Lane, who represented Unilever Ventures on the board of BAC, says: “We want to congratulate CEO Laurens Sierkstra and the entire BAC team for what they have achieved. We are delighted to have invested in such a fantastic company and we wish them every success in the future.”
- By Category
- News from other sites
- Special Reports
- Partner events