EQT to exit Ellab to Novo Holdings

• EQT Private Equity invested in Ellab in 2019
• Novo Holdings is a holding and investment company that manages the assets of Novo Nordisk Foundation
• EQT is a global investment organisation based in Stockholm, Sweden

EQT Private Equity, together with its co-shareholders, have agreed to sell Ellab, a provider of validation and monitoring products and services for biotech and pharmaceutical processes, to Novo Holdings.

Ellab is Headquartered in Hillerød, Denmark.

EQT Private Equity invested in Ellab in 2019.

Ellab has tripled its revenues, EBITDA and number of employees, and has seen around 20 percent annual organic revenue growth, according to a release. It has completed 15 add-on acquisitions.

“The difference now is the scale and flexibility that Ellab offers, as it has transformed into a full-suite provider of validation and monitoring solutions and services,” said Rikke Kjær Nielsen, partner, EQT Private Equity’s Advisory Team.

Ellab shifted its customer focus towards high-growth industries such as biotech, cell & gene therapies, and contract development & manufacturing organisations during EQT’s ownership, the release said.

The transaction, subject to regulatory approval, expected to be completed in Q3 2023.

Novo Holdings, based in Hellerup, Denmark, is a holding and investment company that manages the assets of Novo Nordisk Foundation. The firm had total assets of €108 billion as of year-end 2022.

EQT Private Equity invests in healthcare, technology, services, and industrial technology sectors.

EQT is a global investment organisation that manages €119 billion in assets. The firm is based in Stockholm, Sweden.