Chicago-based private equity firm Linden Capital Partners struck a $4-per-share, $81 million deal to acquire SeraCare Life Sciences, the listed maker of products for human and animal diagnostics. The deal is expected to close in the second quarter of 2012. UPDATE: William Blair & Co. provided financial advice to Linden. The deal team included Brent Felitto, Brian Doyle and Kent Brown.
SeraCare Life Sciences Inc. (SRLS) announced Monday that it has entered into a definitive agreement to be acquired by an affiliate of Linden Capital Partners, a Chicago-based private equity firm that focuses on middle market leveraged buyout investments in the healthcare and life science industries.
As per the terms of the agreement, holders of outstanding shares of common stock of SeraCare will receive $4.00 per share, representing a 25% premium to the 30-day volume-weighted average stock price.
If the merger is approved by shareholders, the transaction is expected to close in the second quarter of calendar year 2012. The transaction is subject to various closing conditions, including the receipt of regulatory approvals, but is not subject to a financing condition. Upon completion of the acquisition, SeraCare will become a private company, wholly owned by an affiliate of Linden.