HyTest gets acquired by Summa Equity
HyTest, a Turku, Finland-based producer of antibodies and antigens for the diagnostic industry, announced getting into an agreement for selling the major shares package in the company to wih private equity firm Summa Equity.
Following completion of the transaction Summa Equity will be the majority shareholder in HyTest, and the founders and management team will remain as significant shareholders in the company.
The financial details of the deal remain undisclosed, and the deal was financed by a senior secured financing solution provided by EQT Credit, through its Mid-Market Credit investment strategy.
HyTest, led by CEO Maria Severina, was founded in 1994 as a spinoff from a project within Turku University, by a group of scientists who are still members of senior management.
The company is a high-quality, global antibody and antigens manufacturer and supplier, primarily targeting in vitro diagnostics (IVD) OEMs and research organizations. HyTest employs 112 people and its customer base includes a large number of companies that supply IVD equipment, including many of the global leaders in the IVD market. The company is active across the globe, including US, Asia and Europe.