Linden Capital Partners to acquire SeraCare for $82 million
SeraCare Life Sciences, a global life sciences company, has agreed to be acquired by an affiliate of Linden Capital Partners, a Chicago-based private equity firm that focuses on middle market leveraged buyout investments in the healthcare and life science industries.
Holders of outstanding shares of common stock of SeraCare will receive $4 per share, representing a 25% premium to the 30-day volume-weighted average stock price. SeraCare's board of directors unanimously approved the agreement.
“Linden is a natural strategic fit for SeraCare with a proven record of operating successful companies in the healthcare and life sciences sectors,” said Greg Gould, interim president, CEO and CFO. “Linden's acquisition of SeraCare recognizes our accomplishments and translates them into significant value for our shareholders.”
"SeraCare's product offerings, services and strong customer base provide an attractive foundation on which to compete and grow in the global high-growth markets of human diagnostics and therapeutics research and development," said Fran Lunger, a Linden Operating Partner and former CEO of Millipore.
If the merger is approved by shareholders, the transaction is expected to close in the second quarter of 2012.