PE Firms Interested in Beckman Coulter

A slew of buyout shops, including Blackstone Group, Apollo Global Management, Kohlberg Kravis Roberts & Co., TPG Capital and Bain Capital, are all interested in buying diagnostics and medical instruments company Beckman Coulter, Reuters reported. Beckman Coulter is considering selling itself, Reuters reported, adding that the company hired Goldman Sachs to help it weigh options. Beckman Coulter is based in Brea, Calif., and has a market capitalization of roughly $4 billion.

(Reuters) – A number of private equity firms including Blackstone Group LP (BX.N), Apollo Global Management [APOLO.UL] and Kohlberg Kravis Roberts & Co (KKR.N) are interested in Beckman Coulter Inc (BEC.N), a diagnostics and medical instruments maker which is considering selling itself, several sources familiar with the situation said.

TPG Capital LP [TPG.UL] and Bain Capital are also interested, one of the sources said.

Private equity firms interested are likely to team up to form consortiums to bid, said one of the sources, who was familiar with the process. A second source said that bids are due late in December.

Beckman Coulter, which has a market capitalization of roughly $4 billion, recently hired Goldman Sachs Group Inc (GS.N) to help it weigh strategic options, including a possible sale of the company, sources familiar with the situation said on Thursday.

A deal would mark the latest transaction in the medical devices sector, and would be the latest in a spate of private equity deals. Buyout firms are sitting on vast amounts of cash to invest and financing conditions have improved, allowing larger deals to be struck.

All the private equity firms and Goldman Sachs declined comment.

By Megan Davies
(Editing by Gerald E. McCormick)