Summit Partners-backed Fermentas International has entered into a definitive agreement to be acquired by Thermo Fisher Scientific (NYSE: TMO) for $260 million in cash. Fermentas manufactures and distributes enzymes, reagents and kits for molecular and cellular biology research and is being advised by Jefferies & Company on the transaction. Summit supplied the company with development capital in 2007 in exchange for a significant minority stake.
Since the beginning of 2007, 101 PE investors have invested in 111 U.S. companies in the Pharmaceuticals and Biotechnology industry. The most active sector in the industry has been Pharmaceuticals with 56 deals, followed by Drug Discovery and Biotechnology. Overall PE interest in the industry appears to be waning, as deal activity has slowed from year to year. In 2007, there were 44 deals, while there were only 37 in 2008, 28 in 2009 and 8 so far this year. Several investors, however, still believe in the industry and have chosen to make multiple investments. The most active include RoundTable Healthcare Partners (6 deals), The Blackstone Group (5), TPG Capital (5), Bain Capital (4), DW Healthcare Partners (4) and Aisling Capital (4).