Advanced Instruments, a portfolio company of Windjammer Capital, has been acquired by Patricia Industries for $780 million

November 11, 2020

Advanced Instruments, a portfolio company of Windjammer Capital, a global provider of scientific and analytical instruments for the biotechnology, clinical, and food & beverage industries, has been acquired by Patricia Industries, a part of Investor AB for an enterprise value of $780 million.

Cain Brothers, a division of KeyBanc Capital Markets, served as non-exclusive financial advisor to Advanced Instruments.

Advanced Instruments is a global provider of scientific and analytical instruments for the biotechnology, clinical, and food & beverage industries. Since 1955, the company’s innovations have helped organizations improve quality of results, achieve reliable outcomes, and increase workplace productivity. Advanced Instruments has a diverse portfolio of products, including freezing-point osmometers, cerebrospinal fluid cell counters, anaerobic jar systems, cryoscopes, pasteurization test systems, and testing standards and controls.

Windjammer Capital is a national private equity investment firm based in Newport Beach, CA and Waltham, MA that invests control equity in middle-market businesses and in partnership with management. Windjammer manages over $2 billion of committed capital and has completed over 50 platform acquisitions and over 100 add-on acquisitions since its founding in 1990.

Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owner is the Wallenberg Foundations.