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GTCR commits up to $300m to Maravai Life Sciences

18 Mar 2014

biotech_lrgPrivate equity firm GTCR has teamed up with Carl Hull and Eric Tardif to launch Maravai Life Sciences to buy companies and products in the diagnostics and life sciences sector.

GTCR has committed up to $300m to Maravai Life Sciences, the firm said in a statement.

Prior to partnering with GTCR, Hull served as CEO of molecular diagnostic company Gen-Probe, while Tardif worked as the ocmpany’s senior vice president.

Hull led GenProbe’s transformation that focused its resources on on its core growth areas of clinical diagnostics and laboratory automation.

The business was eventually sold to Hologic for $3.7bn.

GTCR managing director Dean Mihas said, “We are very excited to partner with Carl and Eric to build a leading company in the diagnostics and life sciences industry.

“They have exceptional track records of thoughtful leadership and value creation. Their expertise, strategic vision and operational abilities make them ideal partners as GTCR commits to a platform in this attractive industry.”

In January GTCR closed its seventh buyout fund on $3.85bn after only seven months on the road.

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