GTCR LLC is investing up to $300 million of equity capital to form Maravai Life Sciences Inc.
Headquartered in San Diego, Maravai will focus on acquiring companies and products in the diagnostics and life sciences industry to build a leading health care business.
To create the company, GTCR is teaming up with Carl Hull (pictured) and Eric Tardif, former executives of Gen-Probe Inc., a molecular diagnostic company that was bought by Hologic Inc. (Nasdaq: HOLX) for $3.8 billion in 2012.
GTCR’s investment in Maravai will be made from GTCR Fund X LP, which boasts $3.25 billion of equity capital commitments.The deal is the latest example of the Chicago private equity firm’s Leaders Strategy, which involves "finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth."
In September, GTCR formed financial technology company Opus Global Holdings LLC in partnership with Doug Bergeron, the former CEO of VeriFone Systems Inc. (NYSE: PAY), a payments technology company backed by GTCR that went public in 2005.
In August, GTCR created Crealta Pharmaceuticals Inc., teaming up with Ed Fiorentino, an industry veteran who previously spent 22 years at Abbott Laboratories (NYSE: ABT) who recently served as CEO of Actient Holdings LLC, which was backed by the firm and was sold to Auxilium Pharmaceuticals (Nasdaq: AUXL) in April.
For more on GTCR’s Leader Strategy, see “A Fin Tech Star May Be Born.”