Summa-backed Olink files for US IPO

No pricing terms were disclosed for the IPO, which has a placeholder amount of $100m.

Olink has been backed by Summa Equity since March 2019. The business grew its revenues to $54.1m in 2020, a 16.7% increase over 2019, and incurred a net loss of $6.8m last year.

Goldman Sachs, Morgan Stanley, BTIG and SVB Leerink are acting as joint bookrunners for the IPO. 

Summa Equity acquired Olink Proteomics from its founders in March 2019 via Summa Equity Fund II. The management team, led by Ulf Landegren, remained as minority shareholders following the transaction. EQT Credit provided a unitranche facility to support the acquisition.

Founded in 2004 and based in Uppsala, Olink is a biotechnology company that has developed a technology for protein analysis used in large-scale protein studies.

The company has a regional office and service laboratory in Boston, US. It employs 200 staff and generated a turnover of $54.1m in 2020. 

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