Allentown, a portfolio company of Aterian Investment Partners, has closed the add-on acquisition of ClorDiSys Solutions.
Allentown is a provider of lab equipment used in the life sciences sector. The company’s products include reusable and single-use housing equipment for rodents, primates, rabbits, guinea pigs and poultry; biological safety cabinets; cabinet washing and sterilization; and monitoring and animal census systems.
Allentown’s customers include academic research institutions, pharmaceutical and biotechnology companies, private laboratories, governmental research institutions, and contract research organizations. The company was founded in 1968 by the Coiro family and is headquartered in Allentown, New Jersey.
The buy of ClorDiSys is the second add-on acquisition made by Allentown under Aterian ownership and follows the May 2023 buy of BetterBuilt, a manufacturer and installer of vivarium washing systems. Allentown was acquired by Aterian in April 2022 from Heartwood Partners.
ClorDiSys is a provider of chlorine dioxide-based solutions and ultraviolet light systems used for sterilizing and decontaminating vivariums, laboratory equipment and medical devices. Chlorine dioxide gas is an EPA registered sterilant capable of eliminating all microbiological contaminants including bacteria, viruses, molds, and spores.
Unlike other sterilization processes, ClorDiSys’ proprietary method of chlorine dioxide gas generation produces a non-acidic gas that is gentle on materials and electronics, does not result in harmful residues, is non-carcinogenic, and non-explosive.
In addition to its equipment, ClorDiSys also provides a range of decontamination services for laboratories, clean rooms, pharmaceutical manufacturing areas, food processing areas, vivarium research facilities, and processing equipment. ClorDiSys was founded in 2001 and is headquartered near Newark in Branchburg, New Jersey.
The buy of ClorDiSys bolsters Allentown’s presence in the sterilization and decontamination of vivarium research facilities and introduces Allentown to the adjacent and attractive medical device sterilization market.
“Being acquired by Allentown is exactly what we needed to broaden our reach and make our services available to many more research institutions and adjacent industries,” said Paul Lorcheim, a director and co-founder of ClorDiSys. “We want to lead the world and be the catalyst of driving a better and healthier process and shift away from ethylene oxide for medical device sterilization and into ClorDiSys’ chlorine dioxide gas sterilization technology. ClorDiSys is quickly expanding into the medical device sterilization market, tripling the number of locations utilizing our technology in the last year alone. Unlike ethylene oxide, our process is more efficient, non-carcinogenic, non-explosive and greatly reduces the impact on the environment.”
“The acquisition of ClorDiSys represents core strategic initiatives to Allentown of expanding its total addressable market and introducing Allentown to sanitation, disinfection, and decontamination services,” said Daniel Phan, a managing director at Aterian. “As a family-owned and operated company we were thoroughly impressed by ClorDiSys’ products, services and customer-centric solutions and couldn’t be more excited about the partnership together. Allentown continues to establish itself as the acquisition platform of choice as we continue to transform Allentown into a broader solutions provider in the life sciences market.”
“We are thrilled to partner with ClorDiSys and look forward to welcoming the team to the Allentown family” said Charles Simmons, the chief executive officer of Allentown. “In pursuing our strategy to provide a full spectrum of high-science equipment, consumables and services to our trusted biomedical research customers and broadening our offerings and scientific services into adjacent life science industries, we’re thrilled when we find a leading organization that can help us pursue our goals. ClorDiSys is that type of company, offering innovative and effective decontamination solutions with integrity and care, perfectly aligned with our cause to improve science and lifesaving research. We are strong believers in ClorDiSys’ proven solutions to better serve our overlapping and complementary customer bases by providing our customers with a one-stop solution to further address their vivarium needs.”
“ClorDiSys is a highly strategic fit within Allentown’s portfolio of products and services, and we look forward to leveraging Allentown’s broader infrastructure, personnel talent and customer relationships to drive accelerated results,” said Jorge Fabre, a principal at Aterian.
Aterian invests from $10 million to $100 million in middle market businesses with $50 million to $750 million in revenue and $10 million to $50 million in EBITDA. The firm’s latest fund, Aterian Investment Partners IV LP, closed in October 2021 with $830 million of committed capital. Aterian has offices in New York City and Coral Gables, Florida.
© 2024 Private Equity Professional | January 19, 2024
