Schroder Ventures has announced the acquisition of Leica Microsystems from Leica Holdings B.V. Formal completion is scheduled for April 16th, 1998 and is conditional on cartel office approval. The purchase price was not revealed but the total funding to acquire and develop the business was approximately $500m. Equity has been provided by Schroder Ventures and management; debt has been arranged by SBC Warburg Dillon Read as lead arranger and by Soci‚t‚ Generale as co-arranger.
Leica Microsystems, previously known as Leica Microscopy and Scientific Instruments Group, is a world leader in the manufacture and supply of microscopes and related equipment for the healthcare, research and semi-conductor industries. The company is head-quartered in Wetzlar, Germany, and is highly international. With 11 factories in 7 countries, a global network of 18 sales companies and a total workforce of 3,600, Leica Microsystems has worldwide sales of DM860M ($475m), 90% of which are outside Germany.The 27 strong senior management team includes 13 different nationalities.
Horst Wegener, CEO of Leica Microsystems, added: "The Leica Group have been a good parent, whose support we have always appreciated. We look forward to a new partnership with Schroder Ventures and the ultimate goal of a public flotation early in the next millennium". (6.4.98)
Could be interesting to see what this means to the AccuMed/Leica agreement. Considering the low cyto revenues for all of '97....this may shake up the Leica sales with a commensurate stimulation being applied towards sales of the AccuMed equipment. Bottom line...if Leica (under its old parent) didn't sell that many AcCell/TracCells perhaps under this new parent they will. |
