Biosynth Acquires Fitzgerald Industries Life Sciences Supply Business from Trinity Biotech for $30M
April 20, 2023
Biosynth (backed by KKR and Ampersand Capital Partners) has agreed to acquire Trinity Biotech’s Fitzgerald life sciences supply business — comprising Benen Trading Ltd and Fitzgerald Industries International, Inc — for approximately $30 million in cash. Trinity Biotech pursued the divestiture to focus on diabetes care and decentralized diagnostics while reducing net debt; the Fitzgerald business generated about $12 million of revenue in 2022 and will be integrated into Biosynth’s global reagents and biologics platform.
- Buyers
- Biosynth, KKR, Ampersand Capital Partners
- Targets
- Fitzgerald Industries (Benen Trading Ltd and Fitzgerald Industries International, Inc)
- Sellers
- Trinity Biotech plc
- Industry
- Biotechnology
- Location
- Massachusetts, United States
- Transaction Type
- Divestiture
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