GTCR and Maravai Complete Acquisitions of TriLink Biotechnologies and Cygnus Technologies
October 26, 2016
Expands Maravai's Strategy in Specialty Research Reagents and Adds Bioprocessing Leader
GTCR, a leading private equity firm, today announced that it has completed the acquisitions of TriLink Biotechnologies, LLC ("TriLink") and Cygnus Technologies, Inc. ("Cygnus"), adding to its Maravai LifeSciences ("Maravai") platform. The acquisitions further Maravai's strategy of building a leading company focused on specialized research reagents and expand the portfolio with key bioprocessing capabilities.
TriLink was formed in 1996 by co-founders Rick Hogrefe and Terry Beck to meet the growing need for highly modified nucleic acids used in life sciences research and manufacturing. Over the twenty years culminating in the acquisition by Maravai, Rick and Terry built a clear leader providing the most technically challenging nucleic acids, including mRNA and long RNA. The company's expertise is prized by its customers, which include world leaders in life sciences research, diagnostic and therapeutic products as well as academic researchers around the world. TriLink is based in San Diego, California.
Cygnus is the world's leading provider of highly specialized analytical products to the pharmaceutical and biotechnology industries for use in biologics process development and quality control. It is widely recognized for its expertise in bioprocess contaminant testing for analytes such as host cell proteins ("HCPs"). Cygnus was formed by Ken Hoffman in 1987 and introduced its first HCP immunoassays in 1998. Today, Cygnus is the provider of choice for HCP test kits to global biotech and pharmaceutical customers. Cygnus is based in Southport, North Carolina.
Carl Hull, CEO of Marvai commented "We are thrilled to add TriLink and Cygnus to the Maravai portfolio. Each of these companies brings unparalleled capabilities and leadership in their market segments and, together with our Vector company, form a worldwide leader serving the life sciences research, diagnostic and therapeutic markets with highly specialized analytical products."
GTCR and Maravai’s acquisitions of TriLink and Cygnus were funded from GTCR Fund XI, a private equity fund raised in 2014 with $3.85 billion of limited partner equity capital commitments. Kirkland & Ellis LLP provided legal counsel, PricewaterhouseCoopers served as accounting advisor, and BroadOak Partners, LLC served as financial advisor to GTCR.
Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™—finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $12 billion in over 200 companies. For more information about GTCR, please visit www.gtcr.com.
About Maravai LifeSciences
Maravai LifeSciences was formed in 2014 as a partnership between Carl Hull, Eric Tardif and GTCR. Maravai’s mission is to build a transformative company in the life sciences tools and in vitro diagnostics markets by acquiring outstanding businesses in these spaces and accelerating their growth. For more information about Maravai LifeSciences, please visit www.maravai.com.