REVVITY, INC. (RVTY): M&A transaction — PerkinElmer closes sale of Applied, Food and Enterprise Services businesses for ~$2.136B to New Mountain Capital

REVVITY, INC.

Sale of Business (Applied, Food, Enterprise Services) closed Mar 13, 2023; cash consideration ~$2.136B, subject to adjustments.
Amended agreement modifies internal reorganization, IT separation, and defers transfer of operations in UK, Singapore, Thailand, Argentina.
$75M deferred payment for brand/trademark tied to PKI's election; buyer receives upon transfer.
Buyer is PerkinElmer Topco, L.P., owned by New Mountain Capital funds.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

REVVITY, INC. completed a disposition involving PerkinElmer Topco, L.P. (formerly known as Polaris Purchaser, L.P.), owned by funds managed by affiliates of New Mountain Capital L.L.C. for approximately $2.136 billion (closed 2023-03-13).

Action: disposition
Counterparty: PerkinElmer Topco, L.P. (formerly known as Polaris Purchaser, L.P.), owned by funds managed by affiliates of New Mountain Capital L.L.C.
Consideration: approximately $2.136 billion
Closing: 2023-03-13

Exact text from the filing

On March 13, 2023, the Company completed its sale of the Business (not including the Deferred Businesses) to the Purchaser pursuant to the A&R Purchase Agreement. The aggregate consideration paid for the Business at the closing was approximately $2.136 billion

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

REVVITY, INC. amended Amended and Restated Master Purchase and Sale Agreement with PerkinElmer Topco, L.P. (formerly known as Polaris Purchaser, L.P.) valued at $75 million (effective 2023-03-11).

Action: amendment
Agreement: asset purchase
Counterparty: PerkinElmer Topco, L.P. (formerly known as Polaris Purchaser, L.P.)
Value: $75 million
Effective: 2023-03-11

Exact text from the filing

On March 11, 2023, PerkinElmer, Inc. (the “Company”) entered into an Amended and Restated Master Purchase and Sale Agreement (the “A&R Purchase Agreement”) with PerkinElmer U.S. LLC, a Delaware limited liability company and wholly-owned indirect subsidiary of the Company (“PKI US LLC”) and PerkinElmer Topco, L.P. (formerly known as Polaris Purchaser, L.P.) (the “Purchaser”), a Delaware limited partnership owned by funds managed by affiliates of New Mountain Capital L.L.C., which amended and restated the terms of the previously disclosed Master Purchase and Sale Agreement, dated as of August 1, 2022, by and among the Company and the Purchaser (the “Original Agreement”)

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REVVITY, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-071549

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