Ampersand Capital Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

In the last 3 years, Ampersand Capital Partners has acquired 8 companies. It has also invested in 13 others.

Ampersand Capital Partners’ most common sectors for investment arelife science (49%) and medical products (21%) . The Firm’s most common investment types include growth capital (34%) and buyout (lbo, mbo, mbi) (29%). In total, Ampersand Capital Partners has invested in 23 US states and 9 different countries. Its largest (disclosed) acquisition occurred in 2013 when it acquired BioClinica for $123M.

In the last 3 years, Ampersand Capital Partners has exited 12 companies. The Firm’s most common exit type is trade sale (72%). Ampersand Capital Partners’ largest (disclosed) exit occurred in 2008 when it sold Talecris Biotherapeutics Holdings Corp for $3.1B.

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M&A Summary

M&A Total Activity130
- M&A Buy Activity77
- M&A Sell Activity53
Total Sectors Invested 15
Total Countries Invested 9
M&A Buy/Sell Connections 60
M&A Advisors 1

Ampersand Capital Partners

Transaction Criteria	Min	Max
Target Revenue	10	100
Target EBITDA	-	-
Investment Size	10	100
Enterprise Value	-	-
values in millions of USD

Transaction Criteria

Min

Max

Target Revenue

100

Target EBITDA

Investment Size

100

Enterprise Value

values in millions of USD

Year	≤ '19	'20	'21	'22	'23	'24	T
Buy (4.8/yr)	#	53	4	7	9	3	1	77
vol	$141M						$141M
Sell (2.6/yr)	#	40	1	6	6	-	-	53
vol	$6.2B		$531M	$152M			$6.9B
	130

Year

≤ '19

'20

'21

'22

'23

'24

Buy (4.8/yr)

vol

$141M

Sell (2.6/yr)

vol

$6.2B

$531M

$152M

$6.9B

130

Company	Date	Value	Type
Specac Ltd.	2024-03-13	-	Secondary Buyout
Orpington, United Kingdom · www.specac.com
Julius Clinical Research B.V.	2023-11-28	-	Recapitalization
Zeist, Netherlands · www.juliusclinical.com
ProtaGene GmbH	2023-11-20	-	Growth Capital
Heilbronn, Germany · www.protagene.com
NanoImaging Services, Inc.	2023-06-12	-	Growth Capital
San Diego, California · www.nanoimagingservices.com
Alcami Corp., Inc.	2022-11-08	-	Secondary Sale
Wilmington, North Carolina · www.alcaminow.com
Genome Diagnostics B.V.	2022-10-03	152M EUR	Trade Sale
Utrecht, Netherlands · www.gendx.com
iuvo BioScience LLC	2022-09-28	-	Buyout (LBO, MBO, MBI)
Rush, New York · www.iuvobioscience.com
AcuraBio Pty Ltd.	2022-09-07	-	Buyout (LBO, MBO, MBI)
Darra, Australia · www.acurabio.com
Flagship Biosciences, Inc.	2022-09-01	-	Growth Capital
Broomfield, Colorado · www.flagshipbio.com
Phosphorex LLC	2022-08-25	-	Recapitalization
Hopkinton, Massachusetts · www.phosphorex.com
View All >>

Company

Date

Value

Type

Specac Ltd.

2024-03-13

Secondary Buyout

Orpington, United Kingdom · www.specac.com

Julius Clinical Research B.V.

2023-11-28

Recapitalization

Zeist, Netherlands · www.juliusclinical.com

ProtaGene GmbH

2023-11-20

Growth Capital

Heilbronn, Germany · www.protagene.com

NanoImaging Services, Inc.

2023-06-12

Growth Capital

San Diego, California · www.nanoimagingservices.com

Alcami Corp., Inc.

2022-11-08

Secondary Sale

Wilmington, North Carolina · www.alcaminow.com

Genome Diagnostics B.V.

2022-10-03

152M EUR

Trade Sale

Utrecht, Netherlands · www.gendx.com

iuvo BioScience LLC

2022-09-28

Buyout (LBO, MBO, MBI)

Rush, New York · www.iuvobioscience.com

AcuraBio Pty Ltd.

2022-09-07

Buyout (LBO, MBO, MBI)

Darra, Australia · www.acurabio.com

Flagship Biosciences, Inc.

2022-09-01

Growth Capital

Broomfield, Colorado · www.flagshipbio.com

Phosphorex LLC

2022-08-25

Recapitalization

Hopkinton, Massachusetts · www.phosphorex.com

View All >>

Company	Acquired	Add-On/Sale	Date	#
Biosynth Carbosynth Ltd.	2021-11-01	Benen Trading Ltd.	2023-04-20	2
St. Gallen, Switzerland · www.carbosynth.com	Bray, United Kingdom
Biosynth Carbosynth Ltd.	2021-11-01	Fitzgerald Industries International, Inc.	2023-04-20	1
St. Gallen, Switzerland · www.carbosynth.com	Acton, Massachusetts
Biosynth Carbosynth Ltd.	2021-11-01	vivitide LLC	2022-03-17	7
St. Gallen, Switzerland · www.carbosynth.com	Gardner, Massachusetts · www.vivitide.com
Tjoapack Netherlands B.V.	2020-04-21	Pharma Packaging Solutions	2021-10-21	1
Etten-Leur, Netherlands · www.tjoapack.com	Clinton, Tennessee · www.pharmapackagingsolutions.com
Precision Coating Co. Inc.	2021-09-20	N2 Biomedical	2021-09-20	2
Hudson, Massachusetts · www.precisioncoating.com	Bedford, Massachusetts · www.n2bio.com

Company

Acquired

Add-On/Sale

Date

Biosynth Carbosynth Ltd.

2021-11-01

Benen Trading Ltd.

2023-04-20

St. Gallen, Switzerland · www.carbosynth.com

Bray, United Kingdom

Biosynth Carbosynth Ltd.

2021-11-01

Fitzgerald Industries International, Inc.

2023-04-20

St. Gallen, Switzerland · www.carbosynth.com

Acton, Massachusetts

Biosynth Carbosynth Ltd.

2021-11-01

vivitide LLC

2022-03-17

St. Gallen, Switzerland · www.carbosynth.com

Gardner, Massachusetts · www.vivitide.com

Tjoapack Netherlands B.V.

2020-04-21

Pharma Packaging Solutions

2021-10-21

Etten-Leur, Netherlands · www.tjoapack.com

Clinton, Tennessee · www.pharmapackagingsolutions.com

Precision Coating Co. Inc.

2021-09-20

N2 Biomedical

2021-09-20

Hudson, Massachusetts · www.precisioncoating.com

Bedford, Massachusetts · www.n2bio.com

Sector	Current #	Value	All-time #	Value
Life Science	16 (57%)	-	38 (49%)	123M (87%)
Medical Products	3 (11%)	-	16 (21%)	18M (13%)
Chemicals	2 (7%)	-	4 (5%)	-
Healthcare Services	-	-	3 (4%)	-
Software	-	-	3 (4%)	-
Consumer Products	-	-	2 (3%)	-
Information Technology	1 (4%)	-	2 (3%)	-
Manufacturing	1 (4%)	-	2 (3%)	-
Test/Measurement Equipment	1 (4%)	-	2 (3%)	-
Business Services	1 (4%)	-	1 (1%)	-
Consumer Services	-	-	1 (1%)	-
Distribution	1 (4%)	-	1 (1%)	-
Packaging	1 (4%)	-	1 (1%)	-
Semiconductors	-	-	1 (1%)	-
Transportation	1 (4%)	-	1 (1%)	-
Total	28	-	78	$141M

Sector

Current #

Value

All-time #

Value

Life Science

16 (57%)

38 (49%)

123M (87%)

Medical Products

3 (11%)

16 (21%)

18M (13%)

Chemicals

2 (7%)

4 (5%)

Healthcare Services

3 (4%)

Software

3 (4%)

Consumer Products

2 (3%)

Information Technology

1 (4%)

2 (3%)

Manufacturing

1 (4%)

2 (3%)

Test/Measurement Equipment

1 (4%)

2 (3%)

Business Services

1 (4%)

1 (1%)

Consumer Services

1 (1%)

Distribution

1 (4%)

1 (1%)

Packaging

1 (4%)

1 (1%)

Semiconductors

1 (1%)

Transportation

1 (4%)

1 (1%)

Total

$141M

State/Country	Current #	Value	All-time #	Value
United States	16 (57%)	-	64 (82%)	141M (100%)
	Massachusetts	2 (7%)	-	15 (19%)	-
	California	2 (7%)	-	11 (14%)	-
	New Jersey	2 (7%)	-	7 (9%)	123M (87%)
	Missouri	1 (4%)	-	4 (5%)	18M (13%)
	Arizona	1 (4%)	-	3 (4%)	-
	Minnesota	1 (4%)	-	3 (4%)	-
	North Carolina	-	-	3 (4%)	-
	Indiana	1 (4%)	-	2 (3%)	-
	Colorado	1 (4%)	-	2 (3%)	-
	Virginia	1 (4%)	-	1 (1%)	-
	Vermont	1 (4%)	-	1 (1%)	-
	Pennsylvania	1 (4%)	-	1 (1%)	-
	New York	1 (4%)	-	1 (1%)	-
	New Hampshire	1 (4%)	-	1 (1%)	-
	Georgia	-	-	1 (1%)	-
	Florida	-	-	1 (1%)	-
	Wisconsin	-	-	1 (1%)	-
	Washington	-	-	1 (1%)	-
	Rhode Island	-	-	1 (1%)	-
	Ohio	-	-	1 (1%)	-
	Michigan	-	-	1 (1%)	-
	Maryland	-	-	1 (1%)	-
	Louisiana	-	-	1 (1%)	-
Germany	3 (11%)	-	3 (4%)	-
Netherlands	2 (7%)	-	3 (4%)	-
United Kingdom	2 (7%)	-	2 (3%)	-
New Zealand	2 (7%)	-	2 (3%)	-
Australia	1 (4%)	-	1 (1%)	-
Sweden	1 (4%)	-	1 (1%)	-
Switzerland	1 (4%)	-	1 (1%)	-
Canada	-	-	1 (1%)	-
	Quebec	-	-	1 (1%)	-
Domestic	16 (57%)	-	64 (82%)	141M (100%)
Cross-border	12 (43%)	-	14 (18%)	-
Total	28	-	78	$141M

State/Country

Current #

Value

All-time #

Value

United States

16 (57%)

64 (82%)

141M (100%)

Massachusetts

2 (7%)

15 (19%)

California

2 (7%)

11 (14%)

New Jersey

2 (7%)

7 (9%)

123M (87%)

Missouri

1 (4%)

4 (5%)

18M (13%)

Arizona

1 (4%)

3 (4%)

Minnesota

1 (4%)

3 (4%)

North Carolina

3 (4%)

Indiana

1 (4%)

2 (3%)

Colorado

1 (4%)

2 (3%)

Virginia

1 (4%)

1 (1%)

Vermont

1 (4%)

1 (1%)

Pennsylvania

1 (4%)

1 (1%)

New York

1 (4%)

1 (1%)

New Hampshire

1 (4%)

1 (1%)

Georgia

1 (1%)

Florida

1 (1%)

Wisconsin

1 (1%)

Washington

1 (1%)

Rhode Island

1 (1%)

Ohio

1 (1%)

Michigan

1 (1%)

Maryland

1 (1%)

Louisiana

1 (1%)

Germany

3 (11%)

3 (4%)

Netherlands

2 (7%)

3 (4%)

United Kingdom

2 (7%)

2 (3%)

New Zealand

2 (7%)

2 (3%)

Australia

1 (4%)

1 (1%)

Sweden

1 (4%)

1 (1%)

Switzerland

1 (4%)

1 (1%)

Canada

1 (1%)

Quebec

1 (1%)

Domestic

16 (57%)

64 (82%)

141M (100%)

Cross-border

12 (43%)

14 (18%)

Total

$141M

Type	Current #	Value	All-time #	Value
Growth Capital	13 (46%)	-	26 (33%)	-
Buyout (LBO, MBO, MBI)	5 (18%)	-	22 (28%)	-
Venture	1 (4%)	-	11 (14%)	18M (13%)
Recapitalization	4 (14%)	-	6 (8%)	-
Divestiture	-	-	4 (5%)	-
Secondary Buyout	2 (7%)	-	4 (5%)	-
Stake Purchase	2 (7%)	-	2 (3%)	-
Going Private	-	-	1 (1%)	123M (87%)
PIPE	1 (4%)	-	1 (1%)	-
Special Situations/Distressed	-	-	1 (1%)	-
Total	28	-	78	$141M

Type

Current #

Value

All-time #

Value

Growth Capital

13 (46%)

26 (33%)

Buyout (LBO, MBO, MBI)

5 (18%)

22 (28%)

Venture

1 (4%)

11 (14%)

18M (13%)

Recapitalization

4 (14%)

6 (8%)

Divestiture

4 (5%)

Secondary Buyout

2 (7%)

4 (5%)

Stake Purchase

2 (7%)

2 (3%)

Going Private

1 (1%)

123M (87%)

PIPE

1 (4%)

1 (1%)

Special Situations/Distressed

1 (1%)

Total

$141M

Type	Total #	Value
Trade Sale - Public Company	20 (38%)	6.8B (98%)
Trade Sale	19 (36%)	127M (2%)
Secondary Sale	5 (9%)	-
Merger	4 (8%)	-
IPO	3 (6%)	-
Recapitalization	1 (2%)	-
Unknown	1 (2%)	-
Total	53	$6.9B

Type

Total #

Value

Trade Sale - Public Company

20 (38%)

6.8B (98%)

Trade Sale

19 (36%)

127M (2%)

Secondary Sale

5 (9%)

Merger

4 (8%)

IPO

3 (6%)

Recapitalization

1 (2%)

Unknown

1 (2%)

Total

$6.9B

Legal	Deals
Edwards Wildman Palmer LLP	1

Legal

Deals

Edwards Wildman Palmer LLP

buy	#	Total
$100M to $1B	1	$123M
< $100M	1	$18M
TOTAL	$141M
Largest	BioClinica, Inc. $123M (2013-03-13)

buy

Total

$100M to $1B

$123M

< $100M

$18M

TOTAL

$141M

Largest

BioClinica, Inc.
$123M (2013-03-13)

sell	#	Total
> $1B	2	$4.8B
$100M to $1B	9	$2.0B
< $100M	2	$76M
TOTAL	$6.9B
Largest	Talecris Biotherapeutics Holdings Corp $3.1B (2008-08-12)

sell

Total

> $1B

$4.8B

$100M to $1B

$2.0B

< $100M

$76M

TOTAL

$6.9B

Largest

Talecris Biotherapeutics Holdings Corp
$3.1B (2008-08-12)

		Deals
Acquired from
Investor(s)	5%	4 (5%)
Strategic(s)	5%	4 (5%)
Exited to
Investor(s)	11%	6 (11%)
Strategic(s)	77%	41 (77%)

Deals

Acquired from

Investor(s)

4 (5%)

Strategic(s)

4 (5%)

Exited to

Investor(s)

6 (11%)

Strategic(s)

41 (77%)

FAQ

When was Ampersand Capital Partners founded?

Ampersand Capital Partners was founded in 1988.

What type of investor is Ampersand Capital Partners?

Ampersand Capital Partners is a growth capital firm.

Where is Ampersand Capital Partners headquartered?

Ampersand Capital Partners is headquartered in Wellesley, Massachusetts.

How much capital does Ampersand Capital Partners have under management?

Ampersand Capital Partners has 2.0B USD under management.

Ampersand Capital Partners Mergers and Acquisitions Summary

Growth Capital Firm Profile

M&A Summary