ProteinSimple, Bio-Techne deal
Research supplier Bio-Techne will acquire ProteinSimple for $300 million in cash.
ProteinSimple develops and commercializes proprietary systems and consumables for protein analysis, including Western blots. Bio-Techne, which also sells antibody reagents that are validated for Western blot use, said the acquisition offers possibilities for creating full protein analysis solutions and is a “natural fit” in Bio-Techne’s product line. ProteinSimple will continue as a division of Bio-Techne and will be led by ProteinSimple CEO Tim Harkness. Bio-Techne will finance the deal, which is expected to close on or around July 31, with cash on hand and a new revolving credit facility. JPMorgan advised ProteinSimple, and Cooley LLP is the company’s legal counsel. Fredrikson & Byron is Bio-Techne’s legal counsel. ...