mynth
08/2023100%

Abcam acquired by Danaher

UNITED KINGDOM Industrial Equipment / Special Machinery / Instrumentation & Measurement EV $1–10bn

Context

In August 2023, Danaher Corporation announced the signing of a definitive agreement to acquire Abcam, a move that aligns with the company's strategy to bolster its life sciences segment and accelerate innovation in biomedical research. Under the terms of the deal, Abcam will operate as a standalone entity within Danaher's Life Sciences segment, retaining its brand and operational positioning. This structure is designed to preserve Abcam's community-centric business model while leveraging Danaher's industrial, technological, and operational capabilities, including the Danaher Business System. The acquisition aims to enhance Danaher's capabilities in biological research tools, complementing its portfolio with a specialized offering of high-precision antibodies and reagents. The combined entity is expected to accelerate drug discovery and the understanding of complex diseases, while consolidating Danaher's position across the life sciences value chain. The transaction, unanimously approved by the boards of directors of both companies, remains subject to regulatory approvals and the approval of Abcam's shareholders, with an expected closing date in 2024. Beyond its financial implications, this acquisition is part of a broader trend of consolidation in the research tools sector, where demand for standardized, validated, and reproducible solutions continues to grow steadily.

Abcam, which reported an EBITDA margin of [members only] in 2023, is valued in this transaction at an EV/EBITDA multiple of Above 20x, standing directly in line with the average observed in the Industry & Manufacturing sector (11.1x in 2023).

-> Deep-dive in Industry & Manufacturing market trends

Target

Abcam is a global leader in providing tools and reagents for life science research. Founded in 1998 and headquartered in Cambridge, UK, the company delivers essential solutions to biologists, biotechnologists, and medical researchers. Its business is built on the design, manufacture, and distribution of highly validated antibodies, reagents, biomarkers, and assay kits that enable scientists to study complex biological mechanisms involved in diseases and develop new treatments. Abcam's products are used by a vast scientific community, estimated to comprise hundreds of thousands of researchers worldwide. The company has established itself as a go-to supplier of biological research tools, thanks to its stringent quality standards, broad coverage of biological targets, and data-driven approach to scientific validation. Strategically positioned in the biomedical research value chain, Abcam facilitates the identification of therapeutic targets and accelerates drug discovery programs. Its business model is centered on close collaboration with the scientific community, a cutting-edge digital platform, and a user-centric approach that continuously improves its products based on customer feedback.

Ent. Value

$1–10bn

Equity Value

[members only]

Multiples

EV / Revenue

Above 6x

EV / EBITDA

Above 20x

EV / EBIT

[members only]

Historical Financials (USD)

Year
Rev
EBITDA
EBIT
2023
$450–900M
$100–200M
[members only]
2022
$450–900M
$100–200M
[members only]

Other operations with Danaher

Other operations with Danaher
DateAcquirerTargetCountrySector
02/2019DANAHERGE LIFE SCIENCESUNITED STATESLab & Scientific Equipment

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REFERENCES

Valuation range: EV $1–10bn

Revenue range: $450–900M

EBITDA range: $100–200M

EV/Revenue range: Above 6x

EV/EBITDA range: Above 20x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Abcam by Danaher are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: abcam

Acquirer: danaher

FAQ

What transaction does this page cover?

This page covers Danaher’s acquisition of 100% of Abcam, a British company specialised in Special Machinery, in 2023.

How was the acquisition of Abcam by Danaher valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the $1–10bn band, its EV/EBITDA multiple within the Above 20x range, and its EV/revenue multiple within the Above 6x range. Exact figures are available to members.

What were Abcam’s revenue and EBITDA at the time of the deal?

At the time of the transaction, Abcam generated annual revenue estimated in the $450–900M range and EBITDA in the $100–200M bracket (FY 2023). Detailed financial figures are available to members.

How does the valuation of Abcam compare to benchmarks in the Industry & Manufacturing sector?

With an estimated multiple range of Above 20x, the transaction stands directly in line with historical averages for the Industry & Manufacturing sector (11.1x in 2023).

What sources support the information on this transaction?

Data on this transaction was compiled from the official corporate announcement published by the parties, combined with independent reporting from specialized financial and M&A publications.

What is mynth?

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