JPMorgan Advises ProteinSimple in Sale to Bio-Techne
Techne Corporation (d/b/a Bio-Techne) announced that it has agreed to acquire ProteinSimple for $300 million in cash. The closing of the acquisition is subject to the satisfaction of customary closing conditions. The acquisition is not subject to any financing contingencies. The transaction will be financed through a combination of cash on hand and a new revolving line of credit that Bio-Techne expects to obtain prior to the closing of the acquisition.
JPMorgan is acting as exclusive financial advisor to ProteinSimple and Cooley is serving as ProteinSimple’s legal counsel. Fredrikson & Byron. is serving as Bio-Techne’s legal counsel. The transaction is expected to close on or around July 31, subject to regulatory clearances and the satisfaction of all other closing conditions.
Santa Clara, CA-based ProteinSimple develops and commercializes proprietary systems and consumables for protein analysis that ultimately help reveal new insights into the true nature of proteins.
Bio-Techne is a developer and manufacturer of purified proteins — notably cytokines and growth factors, antibodies, immunoassays and biologically active small molecule compounds, which are sold to biomedical researchers and clinical research laboratories
Techne Corporation (d/b/a Bio-Techne) is a global life sciences company providing bioactive tools and resources for the research and clinical diagnostic communities.