SP Industries 935 Mearns Rd, Warminster, PA, USA +1-800-523-2327 +1-215-672-7800
Freeze Dryers .. Pharmaceutical Lyophilizers .. Chillers .. Centrifugal Concentrators .. NMR & EPR Consumables .. Laboratory Glassware & Equipment .. Glassware Washers .. Thermal Management Systems .. Solvent Evaporators .. Sample Coolers .. Automated Loading & Unloading Systems .. Spectroscopy Supplies .. Custom Glassware & Repairs .. Hygrometers .. Hydrometers .. Calibration Services .. Products for Daily Living .. Environmental Stability Rooms .. Vial Handling Equipment
SP Industries Is Acquired by Graham Partners
March 3, 2011 Warminster, PA
Graham Partners has acquired SP Industries, a leading designer and manufacturer of equipment and components used in pharmaceutical development and production and basic scientific research. SP Industries' two primary product categories, Equipment and Glass, include laboratory and pharmaceutical research equipment, pharmaceutical production equipment, laboratory glassware, NMR and EPR and precision tubing, and engineered glass components. SP Industries' products are also used for environmental testing as well as flavors and fragrance research and development. The Company's principal markets include the pharmaceutical, educational, industrial, and OEM markets.
SP Industries manufactures products that play a vital role in the new drug development process, a critical growth engine of the pharmaceutical industry. As advanced medical care becomes more accessible around the globe and as the world's population ages, the rate of new drug development and drug production is projected to increase. The current industry conversion toward biologic and therapeutic protein drugs also aids SP Industries as virtually all therapeutic proteins depend on freeze drying, an area in which SP Industries is a market leader.
SP Industries Research and Process Equipment business segment includes well-known industry brand names such as VirTis, FTS, Genevac, and Hull which are focused on laboratory research equipment and pharmaceutical production freeze dryers. The Research Glass business segment includes Wilmad-LabGlass brand laboratory glassware and equipment, precision engineered glass components, and nuclear magnetic resonance tubing.
Graham Partners is a leading, lower middle market private equity firm based in suburban Philadelphia with over $1.5 billion under management. Graham Partners is sponsored by the privately held Graham Group of York, Pennsylvania, an industrial and investment concern with global interests in plastics, packaging, machinery, building products and outsource manufacturing. Graham Partners seeks to acquire industrial and manufacturing-related companies with revenues between $30 million and $500 million that participate in niches where Graham can leverage its unique combination of operating resources and financial expertise to drive value creation.
"SP Industries is a dynamic company producing industry-leading technologies and equipment," said Rob Newbold, Managing Principal at Graham Partners. "The Company's exceptional management team, strong brands, loyal customer base, and ability to create innovative and dependable products provide it with a strong competitive advantage."
Chuck Grant, President and CEO of SP Industries, said "SP has built a reputation within the industry for cutting edge, cost-effective products that deliver high level solutions to the biopharmaceutical industry. I look forward to partnering with Graham to further expand our product portfolio and our global footprint."
Terms of the transaction were not disclosed.
Visit Graham Partners at www.GrahamPartners.net
Visit SP Industries at www.SPIndustries.com