Avidity Science sells Lab Products and Harford Systems to Gen Cap

Avidity Science, a Wisconsin-based provider of life science research tools, said that it has divested its subsidiaries — Lab Products, LLC and Harford Systems, LLC to Gen Cap America.

The financial terms of the deal were not disclosed by the parties.

The buyer of the businesses is a Nashville-based private equity firm, which is focused on lower middle market buyouts.

Established in 1969, Lab Products and Harford Systems are engaged in designing and manufacturing research model housing solutions. Their patented technologies are said to address research issues of protecting research models and scientific personnel, operational efficiency, and efficient use of the available area.

Doug Lohse — CEO of Avidity Science said: “I want to thank the Lab Products and Harford teams for their innovative and customer-focused approach.

“I’m confident the acquisition by Gen Cap will better align with Lab Products and Harford System’s growth objectives.  At the same time, Avidity Science remains focused on providing value to our customers, enabling researchers around the world to deliver life changing innovations to improve the quality of life.”

Lab Products and Harford Systems mark the 14th platform acquisition made from Gen Cap America’s fund VII.

The leadership team of the two businesses remains intact with John Soper retaining overall responsibility for the newly formed entity.

Chris Godwin — Gen Cap America Managing Director said: “We are thrilled to partner with the exceptional management team at Lab Products & Harford Systems, led by CEO John Soper, in this investment.

“We look forward to working with the team to further build on the company’s long track record of providing the highest quality animal housing and care equipment products and exceptional service to its customers.”

CATEGORIES
TAGS
Share This

COMMENTS

Wordpress (0)
Disqus ( )