EQT Partners AB agreed to purchase a majority stake in Aldevron LLC, a custom producer of nucleic acids, proteins and antibodies to the biotechnology industry.
Upon deal closing, the company's founders, management and TA Associates will own a minority stake in the business.
EQT said it plans to aid the Fargo, N.D.-based company by investing in its research and development, innovation and growth initiatives, as well as in the additional production capacity at its Fargo campus.
The deal, which is made through the EQT VIII fund, is set to be completed by the end of 2019 and is subject to regulatory conditions and approvals.
Morgan Stanley & Co. LLC was financial adviser to EQT, while Simpson Thacher & Bartlett LLP was its legal adviser. Goldman Sachs was financial adviser to TA Associates, and Kirkland & Ellis LLP was its legal counsel.