BDA Partners is pleased to announce that Navis Capital (“Navis”), advised by William Blair and BDA Partners, has agreed to sell 100% of B Medical Systems (“B Med”) to Azenta, Inc (“Azenta”), a leading provider of cold-chain sample management solutions and genomics services to top pharmaceutical, biotech, academic and healthcare institutions globally. The transaction values B Med at an Enterprise Value of up to €460 million and is expected to close in October 2022.
B Med is the global leader in sustainable medical cold chain solutions with a presence in over 150 countries. As the world’s single largest vaccine cold chain provider, B Med ensures the safe and reliable storage and transportation of temperature-sensitive vaccines to a significant part of the global population, particularly in emerging economies in Asia, Latin America and Africa where electricity grids are unreliable and in places non-existent.
Nicholas Bloy, Managing Partner at Navis, commented: “B Med is an interesting case study illustrating the successful execution of a product development strategy focused solely on providing medical equipment and data that helps organisations around the world to save millions of lives. We wish our trusted friends and partners at B Med all the best as they embark on the next stage of their growth journey with Azenta.”
Luc Provost, CEO of B Med, commented: “We are proud to be the partner of choice for countries to help save lives through the safe and reliable delivery of vaccines, blood and pharmaceuticals. Over the last seven years we have created an incredible growth platform that will deliver on multiple new initiatives in the next few years. We are delighted to be part of the Azenta family and we know that we will create significant value – both financial and social – in our new journey together.”
Andrew Huntley, Managing Partner and Global Head of Healthcare, BDA Partners, said: “We have advised Navis on numerous successful exits. This transaction is a great example of how BDA and our partners at William Blair deploy our life sciences sector expertise to help deliver a global transaction involving Asia, Europe and North America.”
BDA deal team
Andrew Huntley, Managing Partner, Ho Chi Minh City / London
Paul DiGiacomo, Managing Partner, Hong Kong
Shintaro Miyazaki, Associate, Tokyo
About Navis Capital Partners
Founded in 1998, Navis manages approximately US$5bn in private equity capital and focuses on investments primarily in Southeast Asia and its adjacent economies. Navis contributes both capital and management expertise to well-positioned companies with the objective of directing strategic, operational and financial improvements. Navis has one of the largest private equity professional teams in Asia, comprising 60 individuals, supported by 30 administrative staff, in six offices across the region. Since inception, Navis has completed over 90 control transactions, of which over 60 have been exited, and consistent with Navis investment strategy, almost all these exits have been to trade buyers. www.naviscapital.com
About B Medical Systems
B Medical is a global manufacturer and distributor of cold chain solutions. Based in Hosingen, Luxembourg, the company was founded in 1979, when the World Health Organization (WHO) approached Electrolux to provide a solution to safely store and transport vaccines around the world. The three major business portfolios include Vaccine Cold Chain, Medical Refrigeration, and Blood Management solutions. Notable products include vaccine transport systems (ice-lined and solar direct drive) with remote temperature monitoring devices, laboratory refrigerators, ultra-low freezers, contact-shock freezers, and transport solutions. B Medical Systems’ products are used in approximately 150 countries and have an installed base of more than half a million products across the world. www.bmedicalsystems.com/en
About Azenta Life Sciences
Azenta is a leading provider of life sciences solutions worldwide, enabling impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and genomic services across areas such as drug development, clinical research and advanced cell therapies for the industry’s top pharmaceutical, biotech, academic and healthcare institutions globally. As of December 1st, the company changed its name and ticker to Azenta, Inc. (Nasdaq: AZTA) from Brooks Automation, Inc, (Nasdaq: BRKS). Azenta is headquartered in Chelmsford, MA, with operations in North America, Europe and Asia. www.azenta.com
About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul, and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.
BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese Government-owned bank with US$150bn of assets. bdapartners.com