Covaris, Inc.

New Mountain's PerkinElmer has acquired another company where the firm holds a majority stake: Covaris, the maker of sample prep instruments, consumables and reagents. After going through a company split earlier this year, PerkinElmer has found a new dance partner—a match orchestrated by its corporate owner, the private equity firm New Mountain Capital.  New Mountain had acquired the science, food safety and lab supply businesses from the company formerly known as PerkinElmer, along with its nearly century-old brand name, through a $2.45 billion deal this past March.  What remained of the previous company—namely its diagnostics, medtech and biopharma R&D divisions—officially took on a new shade of yellow two months later and currently lives under the title Revvity. Now New Mountain is looking to collate their investments. PerkinElmer has acquired another company in which the firm holds a majority stake: Covaris, the maker of instruments, consumables and sample prep reagents for life sciences research, including genomics and proteomics. The financial terms of the deal were not disclosed. “Covaris has a well-defined growth strategy with market-leading technologies and a very capable leadership team that will allow PerkinElmer to deepen its life sciences portfolio in the diagnostics end market,” PerkinElmer CEO Dirk Bontridder said in the deal’s announcement. “We see significant growth opportunities resulting from the combined resources of both companies, with PerkinElmer’s global scale unlocking commercial opportunities for Covaris.” Founded in 1999 with a headquarters in Woburn, Massachusetts, Covaris’ equipment uses focused ultrasound energy to perform preparation steps without contacting the sample or altering its temperature, such as DNA fragmentation, cell lysis and compound formulation. Meanwhile, the remit of New Mountain’s PerkinElmer includes environmental and industrial chemical testing and food safety analysis, as well as quality assurance and control products for pharmaceutical manufacturing and other enterprise lab solutions. “Our two cultures are very similar and both our customers as well as our employees will benefit from strong R&D resources and complementary solution capabilities,” said Covaris CEO Annemarie Watson.

SHELTON, Conn.--(BUSINESS WIRE)-- PerkinElmer, Inc., a leading global analytical services and solutions provider, today announced that it has acquired Covaris, Inc., a leading developer of solutions to empower life science innovations. The merger will accelerate Covaris’ growth potential and expand PerkinElmer’s existing life sciences portfolio into the high-growth diagnostics end market. Both companies are majority owned by New Mountain Capital, and terms of the transaction were not disclosed. As precision medicine gathers pace for personalized disease treatment and prevention, Covaris is ideally positioned to help enable and accelerate the next generation of life sciences innovation, especially through its Next-Generation Sequencing (NGS) capability, for efficient, reproducible and high-throughput sample preparation and data analysis. Founded in 1999 and headquartered in Woburn, Massachusetts, Covaris is a global leader in the development and deployment of end-to-end solutions for high-throughput genomic and proteomic analysis, including instruments, consumables, and reagents. Covaris’ solutions empower customers to accelerate the pace of research and drug discovery for clinical diagnostics, biopharma, and research markets globally. “Covaris has a well-defined growth strategy with market-leading technologies and a very capable leadership team that will allow PerkinElmer to deepen its life sciences portfolio in the diagnostics end market. We see significant growth opportunities resulting from the combined resources of both companies, with PerkinElmer’s global scale unlocking commercial opportunities for Covaris,” said Dirk Bontridder, CEO of PerkinElmer. “We are excited to begin our new chapter as part of PerkinElmer, an exceptional brand that resonates in our core markets, and will allow us to bring our technology to more customers and expand our growth globally. Our two cultures are very similar and both our customers as well as our employees will benefit from strong R&D resources and complementary solution capabilities,” said Annemarie Watson, CEO of Covaris. Andre Moura, Managing Director at New Mountain Capital, said, “The combination of PerkinElmer and Covaris will bring significant benefits to the customers, employees, and stakeholders of both companies. Covaris will now have access to PerkinElmer’s global reach, technical and operating capabilities to continue its rapid growth trajectory. Covaris’ strong position in the genomics, transcriptomics, and proteomics space brings an exciting new growth vector to PerkinElmer. We look forward to continuing to work with management to build the combined company.” About PerkinElmer PerkinElmer is a global analytical services and solutions provider with offerings including the leading OneSource Field and Laboratory services business that serve the biopharma, food, environmental, safety and applied end markets to accelerate scientific outcomes. Since 1937, PerkinElmer has served as a trusted partner in laboratory analysis and management and today complements its service offerings with a broad portfolio of atomic spectroscopy, molecular spectroscopy, and chromatography instruments, consumables, and reagents. With a dedicated team of more than 6,000 team members, the Company serves customers in more than 35 countries. Additional information is available at . About Covaris Covaris develops, manufactures, and markets instruments, consumables, and reagents used in pre-analytical sample preparation for genomic and proteomic analysis to help accelerate the pace of research and life science innovations. Using proprietary technologies including focused acoustic energy, Covaris’ tools achieve highly accurate and reproducible results with the goal of empowering customers to make new discoveries, develop new assays and improve bioanalytical results. Some of the non-contact applications include faster automated DNA fragmentation, cell lysis, accelerated binding partner mixing, bead resuspension, and compound formulation. Additional information about Covaris is available at . About New Mountain Capital New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit and net lease investment strategies with over $45 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information on New Mountain Capital, please visit .

Building the bridge from genotype to phenotype, the Symposium will feature scientific leaders creating cutting edge technologies and approaches that are ushering in the era of proteoform systems biology & medicine and paving the way for the Human Proteoform Project. The Symposium will be held Oct. 3-5, 2023 in Chicago, IL. CAMBRIDGE, Mass., Sept. 20, 2023 (GLOBE NEWSWIRE) -- The 2nd International Top-Down Proteomics Symposium will bring together world leaders in the fields of proteomics, proteoform biology, cell biology, and genomics to present their latest research findings as well as to discuss future directions for building the bridge from genotype to phenotype. The Symposium is hosted by the Consortium for Top-Down Proteomics together with Northwestern University’s Chemistry of Life Processes Institute and will be held in Chicago, IL October 3-5, 2023. Prominent presenters are David Walt, Wyss Institute at Harvard University and Harvard Medical School, who will present hypothesis-driven ultrasensitive methods for the discovery and validation of proteoforms; Amy Herr, Dept. of Bioengineering at UC Berkeley and the Chan Zuckerberg Biohub, who will present single-cell analysis tools capable of resolving proteoforms and integrating this information into single-cell omic analysis; and Ben Cravatt, Scripps Research Institute, who will present chemical proteomics strategies to discover proteoform-specific small-molecule probes. In addition, the Symposium will feature a series of poster and oral presentations covering single-cell methods, proteoform function and their complexes, spatial mapping, and clinical applications as well as innovative approaches to proteoform analysis such as single molecule protein sequencing. Larger open questions will be examined in a series of roundtable discussions focused on shaping the next generation of proteomics, the clinical value of proteoforms, and the Human Proteoform Project. Details on the event including sponsorships and exhibition, registration, logistics as well as the speakers and program can be found on the event website at TDP2023.org. The Symposium is generously supported by sponsorships from Bruker, Quantum-Si, Sciex, Thermo Fisher Scientific, Nautilus Biotechnology, Glyphic Biotechnologies, PacBio, Seer, Agilent, ZefSci, Covaris, CMP Scientific, and Affinisep. About the Consortium for Top-Down Proteomics The Consortium for Top-Down Proteomics, Inc. is a 501c3 non-profit organization fostering collaboration, education, and innovative research to accelerate the comprehensive analysis of all human proteoforms, speeding developments in the fields of therapeutics, diagnostics, environment, and energy. It has members from academic institutions, corporations, and government agencies worldwide, and its work is supported by Seer, Thermo Fisher Scientific, Bruker, SCIEX, Lilly, Pfizer, Newomics, and Agilent. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0628b2d0-d093-4561-a102-06da6d57632c