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 The transaction that created the new Ikaria, valued at approximately $670 million, was financed by a group of private equity and venture capital investors led by New Mountain Capital, ARCH Venture Partners and Venrock Associates. INO Therapeutics was acquired from The Linde Group (Deutsche Bšrse: LIN), which retains an equity position in the new entity. The combined company, which is called Ikaria Holdings, has a leadership position in therapeutic gases and critical care medicine, a high-growth, multi-billion-dollar market. Its corporate headquarters is in Clinton, N.J., with operations in several other locations, including a research and development facility in Seattle, a device group in Madison, and a manufacturing facility in Louisiana. Investors in the original Ikaria continue to be investors in the combined company. Approximately $300 million of new equity capital has been contributed by the investor group, which also includes Altitude Life Science Ventures, Washington Research Foundation and Alexandria Equities. Debt financing for the transaction was provided by Credit Suisse acting as lead arranger. Goldman Sachs served as the financial advisor to Ikaria. |
