PerkinElmer, backed by New York-based private equity firm New Mountain Capital, announced on December 4 that it has acquired Covaris. According to data in the LevinPro HC database, this transaction marks the 118th Laboratories, MRI and Dialysis acquisition of 2023, and 27th in the laboratories specialty.
Covaris, also majority-owned by New Mountain Capital, provides tools and technologies to improve pre-analytical sample preparation, enable novel drug formulations and manage compounds in the drug discovery process. The company was founded in 1999 in Woburn, Massachusetts.
PerkinElmer provides products and services to the diagnostics, research, environmental, industrial and laboratory services markets. According to its FY 2022 report, PerkinElmer’s revenue for FY 2022 was $3.3 billion.
The merger will accelerate Covaris’ growth potential and expand PerkinElmer’s existing life sciences portfolio into the high-growth diagnostics end market. Terms of the transaction were not disclosed.
