Microbiology Research Associates, a portfolio company of Thompson Street Capital Partners since May 2015, has acquired Accuratus Lab Services from Avista Pharma Solutions.
Accuratus is a provider of microbiology, virology, and analytical chemistry GLP (Good Laboratory Practices) testing services to ensure compliance with registration standards for the developers and manufacturers of EPA-regulated antimicrobial and consumer products. Accuratus also helps companies in the medical device and biopharmaceutical industries with method development and validation of cleaning, disinfection, and sterilization procedures. The company is led by its General Manager Alan Roth and is headquartered near Minneapolis in Eagan, MN (www.accuratuslabs.com).
Microbiology Research Associates (MRA) is a provider of microbiology testing services with a specialization in GMP (Good Manufacturing Practices), United States Pharmacopeia (USP) testing for sterile and non-sterile products, and Drug Quality and Security Act (DQSA) compliance for hospital pharmacies and compounding facilities. Customers include biopharma, medical device, pharmacy and cosmetic companies. MRA is led by President Fran McAteer and is based near Boston in Acton, MA (www.mra-bact.com).
“MRA is pleased to partner with Accuratus and looks forward to expanding and integrating both companies’ services to provide leadership and further our expertise in microbiological contamination control,” said Mr. McAteer. “With patient care and infection control issues at the forefront of today’s society, growth in disinfectants, preservatives, sanitizers and new antibiotic research is accelerating, and this partnership will have the capabilities to meet these challenges.”
Following the closing of the transaction, Accuratus’ laboratory facilities will remain in Eagan, MN, and MRA’s laboratory facilities will remain in Acton, MA.
Thompson Street makes investments in companies with annual revenues between $20 million and $200 million and EBITDA between $4 million and $15 million. Since its founding in 2000, Thompson Street has acquired more than 100 companies in the business services, healthcare services and engineered products sectors. The firm held a final close of Thompson Street Capital Partners IV, LP with $640 million of capital commitments in December 2015. Thompson Street is based in St. Louis (www.tscp.com).
Avista Pharma Solutions, the seller of Accuratus Lab Services, is a contract testing and manufacturing company with facilities in Durham, NC; Longmont, CO and Agawam, MA (www.avistapharma.com).
Fairmount Partners (www.fairmountpartners.com), an investment bank based in West Conshohocken, PA, was the financial advisor to Accuratus and St. Louis-based investment bank Nolan & Associates (www.nolanassoc.com) was the financial advisor to MRA.
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