Global investment firm Carlyle has agreed to sell Tescan Group (Tescan), a manufacturer of electron microscopes and scientific and analytical instruments, to Shimadzu Corporation, a provider of analytical and measuring technologies listed on the Tokyo Stock Exchange. The enterprise value of the transaction amounts to $850m.
Founded in 1991 and headquartered in Brno, Czech Republic, Tescan is a developer and supplier of scanning electron microscopes, ion beam systems, micro-CT scanners, 4D scanning transmission electron microscopes, and ultrafast laser micromachining technologies, serving customers across material sciences, life sciences, and the semiconductor market.
Following its acquisition of the business in January 2023, Carlyle completed a transition of leadership. Carlyle says the new management has accelerated the company’s repositioning around the semiconductor and nanotechnology markets, with its support.
Carlyle and the management team’s strategy focused on strengthened execution and operational excellence, market share gain driven by new product launches, and expansion of Tescan’s addressable market with product innovation and acquisitions.
The firm subsequently reported above-market growth of ca 50% over three years. The partnership also supported the launch of new semiconductor-focused workflows, broadened services capabilities, and deepened global partnerships, including with Shimadzu Corporation, enabling Tescan to scale and capture share in a sector experiencing rapid growth.
JP Morgan Securities plc served as exclusive financial advisor, White & Case served as legal counsel, and Deloitte provided financial due diligence and accounting support to Carlyle and Tescan in the transaction. Mitsubishi UFJ Morgan Stanley Securities Co, Ltd served as financial adviser and Clifford Chance served as legal adviser to Shimadzu.
