KKR-backed LGC acquires SeraCare from Linden

Linden Capital Partners has sold SeraCare Life Sciences to LGC North America Inc, which is backed by KKR. No financial terms were disclosed. Based in Milford, Massachusetts, SeraCare is a maker of biological products used in the discovery, production, and calibration of diagnostic assays.

PRESS RELEASE

Chicago, IL (November 26, 2018) – Linden Capital Partners (“Linden”), a Chicago-based healthcare private equity firm, announced the sale of SeraCare Life Sciences (“SeraCare” or the “Company”) to LGC North America Inc. (“LGC”), a portfolio company of KKR & Co. Inc. SeraCare, a portfolio company of Linden Capital Partners, is a developer and manufacturer of biological products used in the discovery, production, and calibration of diagnostic assays.

Founded in 1984, SeraCare has been a trusted partner and worldwide supplier to the diagnostic testing industry for over 30 years, advancing the development of clinical genomics, molecular, and serological diagnostics. Its product segments include i) bulk plasma, ii) panels for research and development of diagnostic assays, and iii) clinical controls for calibration of diagnostic laboratory instrumentation for both molecular diagnostics and next-generation sequencing.

“Under Linden’s ownership, our focus on human capital, innovation, and M&A allowed SeraCare to leverage its product portfolio and successfully launch and commercialize a clinical genomics business unit,” said Charlie Mamrak, Chief Executive Officer. Joe Bernardo, Chairman of SeraCare and Linden Operating Partner, added, “As SeraCare advanced the science of HIV detection, SeraCare is the catalyst of personalized medicine. Pharmaceutical, clinical laboratories, and life science companies use our products to help ensure the consistency and accuracy of critical genomic testing within and among laboratories that inform cancer therapies and treatments.”

“Since taking the Company private six years ago, Linden, in conjunction with management and our Operating Partners, implemented a comprehensive value creation program that ultimately led to this successful exit to an industry-leading strategic acquiror,” added Brian Miller, Linden Managing Partner.

Cain Brothers, a division of KeyBanc Capital Markets, served as SeraCare’s financial advisor and Kirkland & Ellis LLP served as legal counsel in connection with the transaction.

About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare industry. Linden’s strategy is based upon three elements: i) healthcare specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. For more information, please visit www.lindenllc.com.