Caledonia Investments sells stake in Agilytix to Cinven
Caledonia Investments said investors in portfolio company Agilytix were selling their interest to Cinven.
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The company said its gross proceeds were expected to be $183m net of fees, with the cash to be held for future investment. Caledonia's shareholding in BioAgilytix was valued by Caledonia at £51m as at September 30.
The deal is subject to US anti-trust approvals and is expected to complete in December 2021.
Caledonia co-invested in BioAgilytix in February 2019 with Belgium-based investment company Cobepa and UK based specialist healthcare fund GHO Capital.
In a separate statement Cinven said Cobepa, which is BioAgilytix' current majority investor, will reinvest in the business and keep a minority stake.