Evans Analytical Group, a provider of analytical and testing services to the agrochemical and pharmaceutical industries and a portfolio company of Odyssey Investment Partners, has acquired Analytical Bio-Chemistry Laboratories.
Analytical Bio-Chemistry Laboratories (ABC) is a contract research organization that provides product development and analytical testing services for companies in the agrochemical and pharma/biopharma markets. ABC is headquartered in Columbia, MO and has approximately 430 employees (www.abclabs.com).
Evans Analytical Group (EAG) has more than 5,500 customers worldwide and operates through tree divisions: the Microelectronics Test and Engineering Division provides engineering services and support for integrated circuits and microelectronics companies; the Materials Characterization Division provides surface analysis and materials characterization for technology companies in the aerospace, consumer electronics, medical devices, pharmaceuticals, semiconductors, defense and automotive markets; and the ChemEco division provides analytical chemistry, environmental fate (the life cycle of a chemical or biological pollutant after its release in the environment), metabolism and eco-toxicology services for animal health, agrochemicals, industrial chemicals, and pharmaceuticals companies. EAG, headquartered in Santa Clara, CA, has an international network of laboratories and approximately 800 employees (www.eag.com).
Over the last three years, according to Odyssey, the ChemEco division has become the pre-eminent global provider of analytical and testing services for its clients. With the pace of new regulations implemented to safeguard food and the environment, the Environmental Protection Agency and its global counterparts are increasingly requiring that a set of comprehensive scientific studies be completed before a chemical is registered for broad use. The acquisition of ABC strengthens EAG’s existing laboratories in the US and Europe and further enhances its leadership in this growing market.
“ABC has built a very strong reputation with both agrochemical and pharmaceutical clients, and is a strong complementary fit with our business. As government regulations continue to evolve, our clients seek partners with broad capabilities to provide a full suite of laboratory testing services,” said Siddhartha Kadia, PhD and CEO of EAG. “The combination of the EAG ChemEco and ABC businesses will provide an unparalleled capacity for scientific studies in biology and chemistry, residue analysis, avian and aquatic ecotoxicology studies, plant metabolism testing, and environmental fate studies.”
“We are very pleased to support the EAG management team in executing their vision to create a diversified and leading laboratory testing company backed by significant scientific expertise and knowhow,” said Randy Paulson, Managing Principal at Odyssey. “In the last 15 months, we have significantly strengthened the management team under the leadership of Dr. Kadia and we are particularly pleased to further expand the rapidly growing ChemEco division of EAG.”
Odyssey makes control investments in middle-market companies in a variety of industries including industrial manufacturing; business, financial and healthcare services; aerospace products; and localized and route-based service businesses. The firm has approximately $4 billion of capital under management and has offices in New York and in Woodland Hills, CA (www.odysseyinvestment.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 7-10-15