Brooks Automation Inc. agreed to acquire privately held GENEWIZ Group for about $450 million in cash, subject to adjustments.
South Plainfield, N.J.-based GENEWIZ provides gene sequencing and synthesis services.
Brooks Automation, which is funding the acquisition from cash on the balance sheet supplemented with incremental debt, said GENEWIZ is its largest life sciences acquisition to date and is expected to generate more than $140 million in revenue in the next 12 months.
The transaction is expected to close by the end of 2018, subject to customary closing conditions and regulatory approvals.
Evercore acted as exclusive financial adviser to Brooks Automation, with Mintz Levin Cohn Ferris Glovsky and Popeo as legal counsel. Jefferies LLC acted as financial adviser to GENEWIZ, with Shearman & Sterling as legal counsel.
Morgan Stanley Senior Funding Inc. is providing committed financing for the transaction.
Chelmsford, Mass.-based Brooks Automation provides automation and cryogenic solutions for multiple markets, including semiconductor manufacturing and life sciences.