8 November 2010
BDA advises Life Technologies on acquisition of Applied Biosystems distribution business of LabIndia Instruments
Acquired Lablndia distribution business in India
Business Development Asia LLC (“BDA”) is pleased to announce that its client, Life Technologies Corp (NASDAQ: LIFE), a global biotechnology company based in Carlsbad, Calif., has agreed to acquire certain assets of LabIndia Instruments Pvt Ltd (“LabIndia”), a long-time distributor of its products. The transaction is expected to allow Life Technologies to offer a more complete and complementary line of products directly to its customers.
Life Technologies provides customers with thousands of cutting-edge instruments and reagents used in biological research, primarily under the Applied Biosystems and Invitrogen brand names. Since 1994, LabIndia has been a distributor of the company’s Applied Biosystems products, including the SOLiD Sequencing System and Ambion RNA reagents. This transaction creates a full-service business, allowing the company to provide its Applied Biosystems products directly to customers along with its Invitrogen portfolio, which includes GIBCO cell culture products, Lipofectamine transfection reagents, and a variety of benchtop instruments.
As a result of the acquisition, nearly 100 professionals from LabIndia will join Life Technologies, creating a 200-person strong organization with operations throughout India. Under the new organization, customers will have better access to a robust line of products that provide end-to-end solutions in areas such as research, diagnostics and forensics, as well as greater sales, customer and technical service support.
“India has experienced strong double-digit growth in the biotechnology sector, making this one of the fastest growing regions in Asia Pacific,” said Mark Smedley, head of the Asia Pacific region for Life Technologies. “Our primary goal in acquiring LabIndia is to meet that increased demand from our customers, and, by developing a more direct connection with them, better serve their needs with superior products, service and customer support. LabIndia has been a strong partner and a great steward of the Applied Biosystems brand for the last 20 years, and can be credited for helping us build a thriving presence in India.”
The acquisition is expected to close during the fourth quarter of 2010. Financial terms were not disclosed. Life Technologies does not expect this transaction to have a material impact to its financials in fiscal year 2010.
BDA acted as the exclusive financial advisor to Life Technologies on the transaction.
BDA Transaction Team:
Arun Bagchi, Director, Mumbai
Sunil Chaddha, Assistant Director, New York
Diwakar Mitr, Associate, Mumbai
Akash Uba, Analyst, Mumbai
About Life Technologies Corp
Life Technologies, based in Carlsbad, Calif., is a global biotechnology tools company dedicated to improving the human condition. Our systems, consumables and services enable researchers to accelerate scientific exploration, driving to discoveries and developments that make life even better. Life Technologies customers do their work across the biological spectrum, working to advance personalized medicine, regenerative science, molecular diagnostics, agricultural and environmental research, and 21st century forensics. Life Technologies had sales of US$3.3 billion in 2009, employs approximately 9,000 people, has a presence in approximately 160 countries, and possesses a rapidly growing intellectual property estate of approximately 3,900 patents and exclusive licenses. Life Technologies was created by the combination of Invitrogen Corporation and Applied Biosystems Inc., and manufactures both in-vitro diagnostic products and research use only-labeled products. More information on Life Technologies is available at www.lifetechnologies.com
About Business Development Asia
Business Development Asia LLC (“BDA”) assists multinational corporate and financial sector clients to identify and execute acquisitions, divestments, JVs, restructuring and capital raising, in Asia and internationally. The company is headquartered in New York with offices in London, Bahrain, Mumbai, Hong Kong, Shanghai, Seoul, and Tokyo. BDA employs 60 full-time professional staff across its eight offices, supplemented by a team of senior advisors around the world. BDA’s clients include Areva, AXA Private Equity, Celestica, Clariant, Cookson, DIC, Ecolab, Hercules, Kennametal, Molex, Nalco, Pfizer, Rexel, Reuters, Ryder, SigmaKalon, Sun Chemical, Tredegar, WestLB, and the British Government. Further information on BDA is available at www.bdapartners.com
For more information regarding this transaction, please contact Sunil Chaddha in New York on (1) 212 265 5300 or Arun Bagchi in Mumbai on (91) 22 2643 0290.
Divested Amazon Papyrus Chemicals Group to The Longreach Group
Divested 100% stake to EagleTree Capital
Divested 100% stake to Escalent
Agreed to be acquired by Mindray
Divested majority stake to DCP Capital
Divested China phenolic resins plant to Red Avenue
Agreed to divest Couvet, Switzerland facility to WuXi AppTec
Raised Series B round from ABC World Asia
Divested Neoss to CareCapital
Divested Hyosung Capital to ST Leaders Private Equity
Acquired EMC Holdings from Affirma Capital
Divested Escientia Life Sciences to Deccan Fine Chemicals
Divested Epolin Chemicals to Chroma Color
Divested significant stake in Kehua Bio-Engineering to Gree Real Estate
Divested Asian electronic cleaning chemicals business to Nippon Kayaku
Divested LAP Laser to IK Investment Partners
Divested majority stake to The Longreach Group
Divested Chrysal International to OAT Agrio Ltd
Acquired by The Blackstone Group
Divested plant health business in Japan to Nisso