After more than a decade of ownership, Nordic Capital agrees £2.25bn Binding Site sale to Thermo Fisher | AltAssets Private Equity News
Summary
A Nordic Capital-led investor group has agreed the £2.25bn sale of medical diagnostics business The Binding Site Group to Thermo Fisher Scientific. The Binding Site provides specialty diagnostic assays and instruments for the diagnosis and management of blood cancers and immune system disorders. Click to sign up to AltAssets’ free daily PE newsletter TBS has been growing approximately 10% annually and is on track to deliver more than $220m of revenue in 2022, the company said. Nordic bought the business in 2011 from founder Jo Bradwell using its €4.3bn Fund VII, and reinvested in the company through its CV1 continuation vehicle in 2018. This vehicle is also the largest and fastest private equity fund to be raised in Europe this year, reaching its final close in just nine months.