Investor AB-backed Patricia Industries completed the acquisition of Advanced Instruments from Windjammer for $780m.

Investor AB-backed Patricia Industries, a long-term owner and investor, completed the acquisition of Advanced Instruments, a global provider of osmolality testing instrumentation and consumables for the clinical, biopharmaceutical, and food & beverage markets, from Windjammer Capital, a private equity investment firm, for $780m. Patricia Industries plans to inject approximately $620m in equity for majority ownership of the company. The remainder of the acquisition will be financed by external debt and equity participation by Advanced Instruments' management, board and other key individuals. "Advanced Instruments has a market-leading technology and a track record of successful innovation. The company has a resilient business model, strong long-term organic growth potential and multiple ways to expand through acquisitions in both existing and new markets. We look forward to working with the management team and our strong industrial network to further develop the business," Noah Walley, Patricia Industries Co-Head.