Avidity Science Announces Agreement to Divest Lab Products & Harford Systems
Avidity Science, a worldwide leader in life science research tools, 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.”
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“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.
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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, Hydropac and BioMedic Data Systems, strengthening our position as a trusted partner to the research community.”
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