Avidity Science Announces Agreement to Divest Lab Products & Harford Systems
PR91428
WATERFORD, Wis., Sept. 4, 2021 /PRNewswire=KYODO JBN/ --
Avidity Science, a worldwide leader in life science research tools, today
announces it has sold its subsidiaries of Lab Products, LLC and Harford
Systems, LLC to Gen Cap America, Inc. ("Gen Cap"), a private equity firm
focused on lower middle market buyouts.
"I want to thank the Lab Products and Harford teams for their innovative and
customer-focused approach," said Doug Lohse, CEO of Avidity Science. "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."
"We are thrilled to partner with the exceptional management team at Lab
Products & Harford Systems, led by CEO John Soper, in this investment,"
commented Gen Cap America Managing Director, Chris Godwin. "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."
Lab Products & Harford are the 14th platform acquisition made from Gen Cap's
fund VII.
Lab Products and Harford Systems leadership team remains unchanged in this
transaction with John Soper retaining overall responsibility for the newly
formed company.
Lohse concluded, "with six acquisitions and a major capacity expansion over the
last four years, Avidity Science has established an unmatched solutions
portfolio with some of the industry's strongest brands including Edstrom(R),
Hydropac(R) and BioMedic Data Systems, strengthening our position as a trusted
partner to the research community."
About Avidity Science
Avidity Science is a worldwide leader in water purification and delivery,
control and monitoring and service solutions for the life science and
biomedical research communities. Since 1969, our mission has been to enable
science to improve the quality of life. With operations in the United States,
Europe, and Asia, we are a trusted partner to the global research community
through unrivaled technology and support. For more information about these
investments and our company, please visit www.AvidityScience.com.
About Gen Cap America
Gen Cap America, Inc. is a Nashville-based private equity firm that provides
equity for management buyouts, division spinoffs, and recapitalizations of
profitable, well-established lower middle market businesses. For more
information, visit www.gencapamerica.com.
About Lab Products / Harford Systems
Established in 1969, Lab Products & Harford Systems are a world leader in the
design and manufacture of research model housing solutions. Our patented
technologies address research issues of protecting research models and
scientific personnel, efficient use of available area and operational
efficiency. For more information, visit www.labproductsinc.com.
SOURCE: Avidity Science
CONTACT: Michael Evans, Marketing Manager, Avidity Science,
Michael.Evans@avidityscience.com
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