Advanced Instruments’ Acquisition of Artel

Simpson Thacher & Bartlett represented Advanced Instruments, while Cravath, Swaine & Moore and Brann & Isaacson represented Artel in the transaction.

Advanced Instruments, a Patricia Industries portfolio company, announced its definitive agreement to acquire Artel for up to $140 million. The acquisition is expected to close during the second quarter of 2022 and is subject to regulatory approval and the satisfaction of other customary closing conditions.

Artel is a leading provider of analytical instruments, consumables, software and services used by life science laboratories within the biopharmaceutical, clinical and diagnostics industries to calibrate, validate and automate their liquid handling processes. Artel’s technologies are recognized globally for enabling its customer base to work more accurately and efficiently, and bring valuable therapies to patients more quickly. Artel is headquartered in Westbrook, Maine.

Advanced Instruments is a global provider of analytical products and services for the clinical, biopharmaceutical and food & beverage markets. With a strong brand reputation and deep customer relationships, it is recognized as the global authority on osmolality testing, and its products are the standard within each of its core markets. Advanced Instruments is based in Norwood, Massachusetts and is majority owned by Patricia Industries.

Artel was represented by J.P. Morgan Securities LLC as exclusive financial advisor.

The Simpson Thacher team included Michael T. Holick (Picture), Heesu Kim and Humberto Romero Carrillo (M&A); Jeannine McSweeney, Scott Schilson and Hannah Daniels (Executive Compensation and Employee Benefits); Timothy Gallagher (Real Estate); Sophie Staples and Lina Pan (Tax); Alden Millard, Robert Meyer and Kyle Nelson (Credit); Vanessa Burrows and Tera Rule (Healthcare); Tim Mulvihill (Environmental); Lori Lesser, Samuel Watters and Mark Natividad (Intellectual Property); and Steven DeLott (Insurance).

The Cravath team was led by partners O. Keith Hallam III and Sanjay Murti and included associates Richard E. Schwartz and Armin Hoss on M&A matters; senior attorney Kiran Sheffrin and associate Duncan H. Hardell on tax matters; partner Eric W. Hilfers and associates Anna Mikaelyan and Molly E. Nichols on executive compensation and benefits matters; partner David J. Kappos and associate Pedraam Mirzanian on intellectual property matters; senior attorney Benjamin G. Joseloff, practice area attorney Nicole M. Peles and associate Stijn de Jong on regulatory matters; senior attorney Annmarie M. Terraciano on environmental matters; and practice area attorney Brian M. Budnick on real estate matters.

Involved fees earner: Brian Budnick – Cravath Swaine & Moore; Stijn de Jong – Cravath Swaine & Moore; Keith Hallam – Cravath Swaine & Moore; Duncan Hardell – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Armin Hoss – Cravath Swaine & Moore; Benjamin Joseloff – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Anna Mikaelyan – Cravath Swaine & Moore; Pedraam Mirzanian – Cravath Swaine & Moore; Sanjay Murti – Cravath Swaine & Moore; Nicole Peles – Cravath Swaine & Moore; Richard Schwartz – Cravath Swaine & Moore; Kiran Sheffrin – Cravath Swaine & Moore; Annmarie Terraciano – Cravath Swaine & Moore; Vanessa Burrows – Simpson Thacher & Bartlett; Hannah Daniels – Simpson Thacher & Bartlett; Steven DeLott – Simpson Thacher & Bartlett; Timothy Gallagher – Simpson Thacher & Bartlett; Michael Holick – Simpson Thacher & Bartlett; Heesu Kim – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Jeannine McSweeney – Simpson Thacher & Bartlett; Robert Meyer – Simpson Thacher & Bartlett; Alden Millard – Simpson Thacher & Bartlett; Timothy Mulvihill – Simpson Thacher & Bartlett; Carlino Mark Natividad – Simpson Thacher & Bartlett; Kyle Nelson – Simpson Thacher & Bartlett; Lina Pan – Simpson Thacher & Bartlett; Humberto Romero Carrillo – Simpson Thacher & Bartlett; Tera Rule – Simpson Thacher & Bartlett; Scott Schilson – Simpson Thacher & Bartlett; Sophie Staples – Simpson Thacher & Bartlett; Samuel Watters – Simpson Thacher & Bartlett;

Law Firms: Cravath Swaine & Moore; Simpson Thacher & Bartlett;

Clients: Advanced Instruments ; Artel;