TESCAN GROUP acquired by SHIMADZU CORPORATION
Context
Shimadzu Corporation has entered into an agreement to acquire Tescan from The Carlyle Group, as part of a strategic plan to bolster its position in the global scientific instruments and advanced imaging technologies market. Under Carlyle's ownership since 2023, Tescan has undergone significant transformation, accelerating its growth, strengthening its international development, and solidifying its presence in the semiconductor-related markets. Concurrently, the company has enhanced its offerings by developing new workflows dedicated to these applications, while expanding its service capabilities and structuring its industrial partnerships. This acquisition by Shimadzu is aimed at increasing its exposure to high-growth segments, including semiconductors, nanotechnology, and materials science. The transaction's appeal lies in the technological complementarity between the two groups, with Tescan bringing advanced solutions in electron microscopy, ion beam systems, and microanalysis, thereby complementing Shimadzu's existing portfolio. Beyond the addition of assets, the operation is driven by a genuine industrial logic, combining Tescan's innovation capabilities with Shimadzu's global expertise in analytical instrumentation. The goal is to create a more integrated offering that better addresses the growing demand for high-precision imaging solutions and advanced materials analysis. This deal also illustrates a broader trend of consolidation in the scientific technologies sector, where players are seeking to expand their portfolios to more comprehensively cover the value chain of analysis and advanced imaging. The acquisition is expected to leverage the synergies between Shimadzu's and Tescan's technologies, enabling the development of more comprehensive and integrated solutions for customers. By combining their strengths, the two companies aim to enhance their competitive position in the global market and drive growth in the scientific instruments and advanced imaging technologies sector. Ultimately, this transaction demonstrates Shimadzu's commitment to investing in strategic assets that can drive long-term growth and expansion in high-growth markets.
It is worth noting that the fund The Carlyle Group took control of Tescan Group through an LBO in 2022.
TESCAN GROUP, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the Industry & Manufacturing sector (11.6x).
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Target
Tescan Group is a global leader in high-precision scientific and analytical instruments, with a recognized expertise in imaging and electron microscopy technologies. Founded in 1991 and headquartered in Brno, Czech Republic, the company develops and markets advanced solutions for the observation and analysis of micro and nano-scale structures. Its technology portfolio includes scanning electron microscopes, ion beam systems, micro-CT scanners, 4D transmission electron microscopes, and ultra-fast laser micromachining solutions. These instruments enable the exploration and characterization of materials with extremely high precision, catering to the demanding needs of sectors such as materials science, life sciences, and the semiconductor industry.
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Other operations with TESCAN GROUP
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 12/2022 | THE CARLYLE GROUP | TESCAN GROUP | CZECH REPUBLIC | Instrumentation & Measurement |
REFERENCES
Valuation range: EV 500M - 1.5b USD
Revenue range: 100M - 200M USD
EBITDA range: 25M - 50M USD
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Target: tescan group
Acquirer: shimadzu corporation