PLEASANTON, Calif.,
April 26, 2021 /PRNewswire/ -- Global
investment firm The Carlyle Group (NASDAQ:CG) today announced that
it has agreed to acquire the rapidly growing life sciences tools
company Unchained Labs for $435
million, in partnership with its management team, from Novo
Holdings A/S, Canaan Partners and TPG Biotech. The
transaction is subject to regulatory approvals and is expected to
close in Q2 2021.
Founded in 2015 and headquartered in Pleasanton, CA, Unchained Labs is a life
science tools company focused on solving problems for biologics and
gene therapy researchers. Unchained systems are used by
biopharma researchers around the world to analyze and characterize
large, complex molecules and to make their research jobs
easier. Unchained has 170 employees and expects to generate
over $75 million of revenue in
2021.
"This is a great day in the history of Unchained Labs," said
Tim Harkness, Unchained Labs Founder
and CEO. "The Unchained team has solved a ton of problems for
researchers over the past few years, but we are just beginning to
scratch the surface of the biologics and gene therapy
opportunity. I am thrilled to welcome Carlyle as our new
partner! They have the team, the vision, the conviction, the
experience, and the capital to help us accelerate organic and
inorganic growth and realize our full potential. I have never
been more optimistic about our future and I am truly excited about
joining Carlyle for the next part of our journey."
"Unchained Labs sits at the intersection of one of the most
attractive sectors in healthcare, life science tools, and its
fastest growing end market, biopharma," said Steve Wise, Global Head of Healthcare at
Carlyle. "With strong industry tailwinds, we believe Unchained Labs
has significant growth opportunities and we're excited to support
another founder-backed business to scale through investments in
research and development, digitization and geographic
expansion."
"In the midst of the genomic revolution, Unchained Labs is on a
mission to bring highly innovative products that are critical to
drug development to researchers globally," said Robert Schmidt, a Managing Director specializing
in healthcare investing at Carlyle. "We look forward to partnering
with Tim and his impressive management team as they help their
pharma and biotech customers work on critical scientific
discoveries and accelerate the Company's aggressive growth
plans."
The investment in Unchained Labs is a continuation of
Carlyle's long-term global commitment to healthcare, in which it
has invested more than $16 billion of
equity since inception. Equity capital for the investment
came from Carlyle Partners VII, an $18.5
billion fund that makes majority and strategic minority
investments primarily in the U.S. in targeted industries, including
healthcare.
J.P. Morgan Securities LLC acted as financial advisor and Cooley
LLP acted as legal counsel to Unchained Labs. Citi acted as
financial advisor and Kirkland & Ellis LLP acted as legal
counsel to Carlyle.
About the Carlyle Group
The Carlyle Group (NASDAQ:CG) is a global investment firm with
deep industry expertise that deploys private capital across three
business segments: Global Private Equity, Global Credit and
Investment Solutions. With $246
billion of assets under management as of December 31, 2020, Carlyle's purpose is to invest
wisely and create value on behalf of its investors, portfolio
companies and communities in which we live and invest. The
Carlyle Group employs 1,825 people in 29 offices across five
continents. Further information is available at
www.carlyle.com. Follow The Carlyle Group on Twitter
@OneCarlyle.
About Unchained Labs
Here's the deal. We're all about helping researchers break free
from tools that just don't cut it. Unleashing
problem-tackling products that make a huge difference in the real
science they do every day. That's our mantra, our promise and
we own it. We're located in Pleasanton, CA and can be found online at
www.unchainedlabs.com.
Carlyle Contact:
Brittany
Berliner
Brittany.berliner@carlyle.com
+1(212) 813-4839
Unchained Labs Contact:
Tim
Harkness
Founder and CEO
tim.harkness@unchainedlabs.com
+1(925) 587-9800
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SOURCE Unchained Labs