Linden Sells SeraCare to KKR’s LGC

Linden Capital Partners, a Chicago-based healthcare private equity firm, announced the sale of SeraCare Life Sciences  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.

Source:  Linden Capital Partners Press Release

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