Benchmark Unveils Sale of Genetics Unit to Novo Holdings
Deal News | Apr 02, 2025 | Travers Smith
Travers Smith LLP provided advice to Benchmark Holdings plc on the financing aspects of its sale of the genetics business area to Starfish Bidco AS, a subsidiary of Novo Holdings A/S. The enterprise value of this transaction stands at £260 million, consisting of an initial consideration of £230 million with a possible additional £30 million contingent consideration. The legal advisory team was spearheaded by Finance Partner Donald Lowe and supported by a multi-level team comprising Senior Associate Jody Coleman, Associates Jagoda Kochan and Atul Diwakar, as well as Trainee Jamie Coupland.
Sectors
- Animal Genetics
- Legal Services
- Private Equity
Geography
- United Kingdom – Benchmark Holdings plc is based in the UK, and Travers Smith LLP is a UK-based law firm.
- Denmark – Novo Holdings A/S, the purchasing entity's parent company, is headquartered in Denmark.
Industry
- Animal Genetics – The transaction involves the sale of a genetics business, indicating strong relevance to the Animal Genetics industry.
- Legal Services – Travers Smith LLP's involvement as legal advisor signifies the relevance of the Legal Services industry.
- Private Equity – Novo Holdings, as the acquiring entity, is a major player in the private equity space.
Financials
- £260 million – The total enterprise value of the transaction.
- £230 million – The initial consideration amount in the transaction.
- £30 million – The contingent consideration in the transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Benchmark Holdings plc | Target | Company | Benchmark Holdings plc is a UK-based company involved in aquaculture and animal genetics. |
| Starfish Bidco AS | Buyer | Company | Starfish Bidco AS is a wholly-owned subsidiary of Novo Holdings A/S. |
| Novo Holdings A/S | Parent Company of Buyer | Company | Novo Holdings A/S is a Danish investment company with a focus on life sciences. |
| Travers Smith LLP | Legal Advisor | Company | Travers Smith LLP is a law firm advising on the financing aspects of the transaction. |
| Donald Lowe | Finance Partner | People | Donald Lowe is a finance partner at Travers Smith leading the advisory team. |