Lafayette Instrument, a maker of polygraph equipment and other scientific instruments and a portfolio company of Branford Castle, has acquired Aurora Scientific, a manufacturer of instrumentation used in life sciences applications.
Aurora is a developer and manufacturer of scientific equipment used in the study of muscle and nerve function, bones and tissues, as well as cardiovascular and respiratory systems.
According to Aurora, it is the market leader in instrumentation equipment used for skeletal muscle physiology research by universities and research institutions. Aurora is headquartered near Toronto in Aurora, Ontario.
Lafayette’s polygraph products were first introduced in 1972 and include software and algorithms, computers, heart rate monitors, headsets, arm cuffs, electrodes, and activity sensors. These products are used by federal law enforcement and security agencies, as well as state and local law enforcement agencies. According to Lafayette, it has sold more polygraph and credibility assessment instruments to private examiners, government, and military organizations than any other manufacturer in the world.
Lafayette also provides neuroscience products – mouse and rat activity systems and mazes, test and sleep deprivation chambers, and touch measurement systems – to both public and private research laboratories. Lafayette was founded in 1947 by Max Wastl and is headquartered 60 miles northwest of Indianapolis in Lafayette, Indiana. Branford Castle acquired Lafayette in April 2021.
“This partnership brings together two leading instrumentation companies within the life science community and presents an opportunity to strengthen our relationships with top research institutions and broaden our product offering,” said Benjamin Mangrich, the CEO of Lafayette.
Branford Castle invests in companies that have enterprise values of up to $100 million and EBITDA of less than $15 million. Sectors of interest include consumer products and services, commercial distribution, industrial and specialty manufacturing, business services, and logistics. For the past 15 years, John S. Castle and David Castle have led New York City-based Branford Castle. Included in the day-to-day management team of the firm is Managing Partner Laurence Lederer.
© 2023 Private Equity Professional | April 25, 2023
