Global investment firm Carlyle announced it has agreed to sell Tescan Group, a manufacturer of electron microscopes and advanced scientific and analytical instruments, to Shimadzu Corporation, a Japan-based provider of analytical and measuring technologies. The transaction values Tescan at an enterprise value of $850 million.
Founded in 1991 and headquartered in Brno, Tescan develops and supplies scanning electron microscopes, ion beam systems, micro-CT scanners, 4D scanning transmission electron microscopes, and ultrafast laser micromachining technologies. The company serves customers across materials science, life sciences, and semiconductor end markets.
Carlyle said that since acquiring Tescan in January 2023, it supported a leadership transition and worked with management to reposition the company toward faster-growing semiconductor and nanotechnology applications. Carlyle and Tescan’s management executed a strategy focused on operational execution, market share gains driven by new product launches, and expansion of addressable markets through product innovation and acquisitions. Carlyle said these initiatives delivered above-market growth of roughly 50% over three years and included new semiconductor-focused workflows, expanded services capabilities, and deeper global partnerships—including with Shimadzu.
Shimadzu said Tescan’s microscopy and imaging technologies complement its existing portfolio and support its strategy to grow in high-growth analytical and semiconductor applications. Tescan’s management said the company intends to build on recent investments in talent, global reach, and technology development under Shimadzu’s ownership.
Support: J.P. Morgan Securities served as exclusive financial advisor to Carlyle and Tescan, with White & Case as legal counsel and Deloitte providing financial due diligence and accounting support. Mitsubishi UFJ Morgan Stanley Securities served as financial adviser and Clifford Chance as legal adviser to Shimadzu.
KEY QUOTES:
“Tescan has undergone a significant transformation over the past three years and is now a stronger, more diversified business with an attractive position in the fast-growing semiconductor and nanotechnology markets. Working closely with Jean-Charles, we strengthened the leadership team, expanded the company’s international footprint, and advanced product innovation and strategic add-on acquisitions that enhanced Tescan’s technological depth and market reach. These initiatives have positioned the company to continue its strong trajectory of growth, and we wish the company future success under Shimadzu’s ownership.”
Vladimir Lasocki, Co-Head, Carlyle Europe Technology Partners; and Petr Rieger, Director, Carlyle Europe Technology Partners
“Over the past several years, we have intensified our focus on delivering innovative solutions for our customers, particularly in semiconductor research and failure analysis. With Carlyle’s backing, we invested in our people, broadened our global reach, and accelerated the development of new technologies. Under Shimadzu’s ownership, we look forward to building on this progress and continuing to support the evolving needs of our customers worldwide.”
Jean-Charles Chen, CEO, Tescan
“Tescan’s advanced microscopy and imaging technologies are highly complementary to Shimadzu’s portfolio and support our strategy to expand in high-growth analytical and semiconductor applications. We look forward to working with the Tescan team to enhance our combined offering, invest further behind the company’s employee base and deliver even greater value to customers worldwide.”
Yasunori Yamamoto, President and CEO, Shimadzu Corporation
