William Fry advises on sale of Cruinn Diagnostics
William Fry LLP has acted for MML Capital Partners, Jack Nolan, Peter Hussey and the other shareholders of the Cruinn Diagnostics group on its sale to Waterland Private Equity.
The buyer is a leading pan-European private-equity firm headquartered in the Netherlands,which currently manages more than €15 billion of investor commitments.
The transaction, which is subject to regulatory approval, is expected to close in the coming weeks.
Cruinn Diagnostics is a specialist provider of laboratory diagnostic equipment, re-agents, consumables and calibration services to hospitals, pharmaceutical companies, universities, and independent test laboratories.
Significant investor
MML Capital Partnersa significant private equity investor in the Irish market having already completed 24 platform investments and with over €270 million in assets under management, invested in Cruinn in 2021 to support its ambitious growth strategy.
The William Fry team advising on the deal was led by head of corporate Andrew McIntyre, supported by a cross departmental team including James McCabe and Ciarán O'Brien (corporate), Ann Faherty (banking and Ffnance), Alicia Compton (employment), Susan Walsh (commercial contracts), Sarah O'Mahony (property), Ciara McLoughlin (pensions), Colin Bolger (tax) and Cormac Little (competition).
Commenting Andrew McIntyre said “We are pleased to have advised on this important transaction which marks another major investment in Ireland’s life sciences and diagnostics sector and reflects growing investor appetite for innovation in healthcare infrastructure.”