Tecan’s $1 Billion Acquisition of Paramit Corporation

Wilmer Cutler Pickering Hale, Dorr LLP and Skrine and Bär & Karrer advised The Tecan Group on the deal, while Schiff Hardin LLP represented Paramit Corporation. Niederer Kraft Frey advised Credit Suisse (Switzerland).

The Tecan Group (SIX Swiss Exchange: TECN) announced that it has entered into a definitive agreement to acquire US-based Paramit Corporation and its affiliates for a total purchase consideration of USD 1.0 billion (CHF 920 million).

Credit Suisse acted as sole lender in the financing of SIX Swiss Exchange listed Tecan Group’s acquisition of Paramit.

Paramit, headquartered in Morgan Hill (CA), US, is a leading OEM developer and manufacturer of medical devices and life sciences instruments. With the addition of approximately USD 300 million in revenues (CHF 276 million) expected in 2022, the acquisition will further extend Tecan’s position in solutions for life sciences and in-vitro diagnostics (IVD). It will also add a new business vertical in the attractive and fast-growing market for medical devices. The acquisition will bring significant engineering as well as cost-competitive manufacturing capabilities, both in North America and in the APAC region. Equipped with proprietary computer-directed assembly technology, these facilities deliver ultra-flexible production planning, while reducing the potential for errors (“zero-defect manufacturing”).

The WilmerHale team representing Tecan is being led by Joe Conahan (Picture), Tal Hacohen, Judd Abramson, Erin Bruynell and Jenna El-Fakih and also includes Steve Barrett, Jason Chipman, Barry Hurewitz, Paul Jakubowski, Scott Kilgore, Bruce Manheim, Kirk Nahra, Justin Ochs, Peggy Otum, Kim Parker, Julie Hogan Rodgers, Hartmut Schneider, Leslie Harrelson, Brett Jackson, Kelsey Quigley, Brandt Tierney, Benjamin Unger and Meghan Walsh.

The Schiff Hardin included Derek Barella, Lauralyn G. Bengel, Olga Bogush, Chris L. Bollinger, Brian A. Friederich, Hugo A. Gallegos, Steve E. Isaacs, Ben Leese, Evgeny Magidenko, Henry Lee Mann, Sara Rosenberg, Heather H. Sanborn, David S. Sattelberger, Michael P. Wissa and Jason L. Zgliniec.

The Skrine team was led by Phua Pao Yii (Partner), supported by  Associates Tan Wei Liang, Ting Shi Jing and Vanessa Ho. The M&A team was supported by Partner Selvamalar Alagaratnam and Senior Associates Sara Lau and Chen Mei Quin of our Employment Law Practice.

The Bär & Karrer team included included Ralph Malacrida, Lukas Roesler, Janine Wüst, Clarissa Marxer (all financing) as well as Cyrill Diefenbacher and David Weimann (both tax).

Involved fees earner: Cyrill Diefenbacher – Bär & Karrer; Ralph Malacrida – Bär & Karrer; Clarissa Marxer – Bär & Karrer; Lukas Roesler – Bär & Karrer; David Weimann – Bär & Karrer; Janine Wüst – Bär & Karrer; Max Hoffet – Niederer Kraft Frey Ltd; Adrian Koller – Niederer Kraft Frey Ltd; Markus Kronauer – Niederer Kraft Frey Ltd; Reto Seiler – Niederer Kraft Frey Ltd; Till Spillmann – Niederer Kraft Frey Ltd; Dominique Sunitsch – Niederer Kraft Frey Ltd; Derek Barella – Schiff Hardin LLP; Lauralyn Bengel – Schiff Hardin LLP; Olga Bogush – Schiff Hardin LLP; Chris Bollinger – Schiff Hardin LLP; Brian Friederich – Schiff Hardin LLP; Hugo Gallegos – Schiff Hardin LLP; Steve Isaacs – Schiff Hardin LLP; Henry Lee Mann – Schiff Hardin LLP; Ben Leese – Schiff Hardin LLP; Evgeny Magidenko – Schiff Hardin LLP; Sara Rosenberg – Schiff Hardin LLP; Heather Sanborn – Schiff Hardin LLP; David Sattelberger – Schiff Hardin LLP; Michael Wissa – Schiff Hardin LLP; Jason Zgliniec – Schiff Hardin LLP; Vanessa Ho Pei Wei – Skrine; Selvamalar Alagaratnam – Skrine; Mei Quin Chen – Skrine; Sara Lau – Skrine; Ting Shi Jing – Skrine; Tan Wei Liang – Skrine; Phua Pao Yii – Skrine; Judd Abramson – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Steven Barrett – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Erin Bruynell – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Jason Chipman – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Joseph Conahan – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Jenna El-Fakih – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Tal Hacohen – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Leslie Harrelson – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Julie Hogan Rodgers – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Barry Hurewitz – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Brett Jackson – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Paul Jakubowski – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Scott Kilgore – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Bruce Manheim Jr – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Kirk Nahra – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Justin Ochs – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Peggy Otum – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Kimberly Parker – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Kelsey Quigley – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Hartmut Schneider – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Benjamin Unger – WilmerHaleWilmer Cutler Pickering Hale and Dorr; Meghan Walsh – WilmerHaleWilmer Cutler Pickering Hale and Dorr;

Law Firms: Bär & Karrer; Niederer Kraft Frey Ltd; Schiff Hardin LLP; Skrine; WilmerHaleWilmer Cutler Pickering Hale and Dorr;

Clients: Credit Suisse; Paramit Corporation; Tecan Group Ltd.;

Author: Martina Bellini