Gen Cap America, Inc. ("Gen Cap"), a private equity firm focused on lower middle market buyouts, announced that, in partnership with management, it has acquired Lab Products, LLC and Harford Systems, LLC (together, "Lab Products") from Avidity Science, LLC. Terms of the transaction were not disclosed.
Lab Products is a leading manufacturer providing an extensive line of laboratory research animal housing and care equipment. Providing highly sophisticated environmental control systems and a range of metal and plastic cages, Lab Products serves an entrenched global base of customers spanning multiple market segments including the sciences, government, and academic research. The company was founded in 1969 and is headquartered in Seaford, Delaware with a manufacturing facility in Aberdeen, Maryland.
Chris Godwin, Managing Director at Gen Cap America stated, "We are thrilled to partner with an exceptional management team at Lab Products. They plan to further build on the company's long track record of providing the highest quality housing and care equipment products. Our management partners have decades of experience in the space and demonstrated innovation abilities to provide for the needs of their customers."
Lab Products will continue to be led by its long tenured management team including CEO John Soper; Ralph Ahrens, President of Harford Systems; Andy Brown, Customer Service Manager and Controller Lorraine Welden.
"We share Gen Cap's excitement about the partnership, and we remain passionate about supporting researchers around the world to deliver life changing innovations with our products," said John Soper.
Soper continued, "We believe Gen Cap will be the perfect partner to allow us to continue building on our decades of success in the industry. Gen Cap's commitment to strong partnerships fits well with our culture of teamwork."
Lab Products is the fourteenth acquisition made from Gen Cap's seventh fund.