By Dominic Chopping
STOCKHOLM–Swedish private-equity firm EQT said Wednesday that together with its co-shareholders it has agreed to sell Ellab to Novo Holdings.
Headquartered in Hillerod, Denmark, Ellab provides validation and monitoring solutions and services for biotech and pharmaceutical processes.
EQT said it invested in the company in 2019 and since then Ellab has tripled its revenue, earnings before interest, tax, depreciation and amortization and number of employees, while experiencing around 20% annual organic revenue growth and completing 15 add-on acquisitions.
The sale to Novo Holdings is expected to close in the third quarter, subject to regulatory approval.
Novo Holdings is a holding and investment company responsible for managing the assets and the wealth of the Novo Nordisk Foundation. Wholly-owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk and Novozymes.
Financial terms weren’t disclosed.
Write to Dominic Chopping at [email protected]
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