PerkinElmer completes US$2.45 billion sale of its Applied, Food and Enterprise Services businesses to New Mountain Capital

1 minute read
13 March 2023

On March 13, 2023, PerkinElmer Inc. (NYSE: PKI) announced that it had successfully completed the previously announced divestiture of its Applied, Food and Enterprise Services businesses to New Mountain Capital, a growth-oriented investment firm. The aggregate consideration was US$2.45 billion in cash, enabling PerkinElmer Inc. to move forward with a strategic focus on its MedTech business centred around diagnostics and life sciences under the rebranded name of Revvity.

Gowling WLG was Canadian counsel to PerkinElmer in this transaction with a team led by Zafar Jaffer, and that included Steve McKersie and Simanpreet Panaych (corporate); Maxwell Brunette, Daniel Hayhurst and Kristen Cruise (employment); Ash Gupta (tax), Michael Bussman (GST/HST) and Malya Amghar (provincial tax registration); Krista Schofer (privacy); Nelson Godfrey and Jayde Wood (IP); Wendy Wagner and Magda Hanebach (nuclear); and Eric Presseau (real estate).

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