Evident Acquired by Bain Capital: Partnership to Accelerate Future Growth and Innovation

Original from: yahoo finance

Evident Corporation (“Evident”) announced that it has been acquired by private equity firm Bain Capital Private Equity (“Bain Capital”) from Olympus Corporation (“Olympus”) pursuant to the definitive agreement signed on August 29, 2022.

Evident was newly established on April 1, 2022 as a wholly owned subsidiary of Olympus comprising the former Scientific Solutions business conducted by Olympus. Headquartered in Tokyo, Japan, Evident conducts business in 24 countries worldwide with more than 4,300 employees.

Supported by Bain Capital, Evident will attain a higher level of agility and faster decision-making to drive innovation-based growth in the life science and industrial markets. Building on a history of more than 100 years of innovation in imaging, instrumentation, and measurement solutions, Evident plans to further expand its portfolio of world-class products, solutions, and services.

Yoshitake Saito, the President and CEO of Evident said “We are very excited about our partnership with Bain Capital because we are convinced that it will enable us to even more strongly fulfill our purpose of becoming a preferred workflow solution partner for a broad range of customers in the life science and industrial markets.”

Yuji Sugimoto, Managing Director of Bain Capital in Japan, said “Bain Capital is committed to supporting Evident on its sustainable growth path to allow the company to foster an accelerated innovation process.”

Stephan Thomas, Managing Director of Bain Capital in North America, added “Evident is at the frontier of digital optical technology in the life science and industrial end markets, and has great potential to expand into new products, new customers, and new markets as an independent company.”

About EVIDENT

At Evident, we are guided by the scientific spirit—innovation and exploration are at the heart of what we do. Committed to making people’s lives healthier, safer, and more fulfilling, we support our customers with solutions that solve their challenges and advance their work—whether it’s researching medical breakthroughs, inspecting infrastructure, or exposing hidden toxins in consumer products.

Evident Industrial’s solutions range from microscopes and videoscopes to nondestructive testing equipment and X-ray analyzers for maintenance, manufacturing, and environmental applications. Backed by state-of-the-art technologies, Evident’s products are widely used for quality control, inspection, and measurement.

Evident Life Science empowers scientists and researchers through collaboration and cutting-edge life science solutions. Dedicated to meeting the challenges and supporting the evolving needs of its customers, Evident Life Science advances a comprehensive range of microscopes for pathology, hematology, IVF, and other clinical applications as well as for research and education.

About Bain Capital Private Equity

Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity's global team of more than 280 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital has 23 offices on four continents. The firm has made primary or add-on investments in more than 1,100 companies since its inception. In addition to private equity, Bain Capital invests across multiple asset classes, including credit, public equity, venture capital and real estate, managing approximately $160 billion in total assets and leveraging the firm's shared platform to capture opportunities in strategic areas of focus.

Source: Evident Acquired by Bain Capital: Partnership to Accelerate Future Growth and Innovation