Summa buys Olink Proteomics

The management team, led by Ulf Landegren, will remain as minority shareholders following the transaction.

It is the second investment from Summa Equity Fund II, which held a final close on SEK 6.5bn in February this year. The vehicle writes equity tickets of €10-50m.

Summa partner Tommi Unkuri led the transaction and told Unquote that the main driver of the investment was the case for organic growth, but it may consider some bolt-ons later in the holding period.

The acquisition of Olink Proteomics is aligned with Summa Equity's "Changing Demographics" theme, and it supports the UN Sustainable Development Goal Target #3: Ensure healthy lives and promote well-being for all at all ages.

EQT Credit provided a unitranche facility to support the acquisition.

Company
Olink Proteomics was founded in 2004, based on research at Uppsala University, under the oversight of Ulf Landegren and his team of researchers. It has developed a technology for protein analysis that is used in large-scale protein studies. The company employs 110 people and generated sales of SEK 137m in 2017.

People
Summa Equity – Tommi Unkuri (partner); Rickard El Tarzi (director); Johan Pietilä Holmner (investment manager).
Olink Proteomics – Ulf Landegren (founder); Jon Heimer (CEO).

Advisers
Company – JP Morgan (corporate finance); Wiggin and Dana (legal); Lindahl (legal).
Equity – Moelis & Company (corporate finance); White & Case (legal); LEK Consulting (commercial due diligence); KPMG (financial due diligence).

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