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11/2023

AVIDITY SCIENCE acquired by ATS CORPORATION

UNITED STATES Industrial Equipment / Special Machinery / Lab & Scientific Equipment EV 100M - 350M USD

Context

ATS Corporation has successfully finalized the acquisition of 100% of Avidity Science, integrating the entity into its growing Life Sciences platform. This strategic transaction is designed to establish a comprehensive suite of laboratory automation and water purification technologies, significantly enhancing the group's ability to serve global biomedical research facilities. The strategic rationale for the move centers on the high degree of technical complementarity between the target’s specialized water systems and the group's existing automation and fluid handling capabilities. By incorporating the target’s established customer base and proprietary filtration solutions, the organization bolsters its value proposition as a primary provider of mission-critical lab infrastructure. The partnership is focused on leveraging the group's global aftermarket service network to drive recurring revenue from consumables and maintenance services. This integration reinforces the organization’s standing as a leading enabler of technical innovation in the life sciences sector, providing the strategic depth required to support high-growth biopharmaceutical research and diagnostics applications worldwide. This move marks a significant densification of the group's presence in the scientific fluid management landscape.

AVIDITY SCIENCE, which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a level LOGIN the average currently observed in the Industry & Manufacturing sector (10.9x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Avidity Science is a specialized technology organization dedicated to the design and manufacturing of automated water purification solutions and high-precision delivery systems for the biomedical and life science markets. The entity’s business model is centered on providing critical infrastructure for research laboratories, where water quality is a fundamental requirement for experimental integrity. Its value proposition lies in the integration of advanced filtration technology with digital monitoring and automated distribution, ensuring technical durability and operational safety in high-stakes clinical environments. Strategically, the firm focuses on the convergence of fluid management and lab automation, facilitating the transition toward "smart" connected laboratories. By maintaining a robust portfolio of proprietary technologies, the organization ensures a mission-critical role in global pharmaceutical research and animal healthcare sectors. The firm prioritizes technical innovation to meet increasingly rigorous regulatory standards in the global life sciences landscape.

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Historical Financials (USD)

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REFERENCES

Valuation range: EV 100M - 350M USD

Revenue range: 50M - 100M USD

EBITDA range: 5M - 25M USD

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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).