PerkinElmer completes US$2.45 billion sale

13 March 2023

Team:

Zafar Jaffer, Steve McKersie, Simanpreet Panaych, Maxwell Brunette, Daniel R. Hayhurst, Ash Gupta, Michael Bussmann, Malya Amghar, Krista Schofer, R. Nelson Godfrey, Jayde Wood, Wendy Wagner, Magdalena Hanebach, Eric Presseau

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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