Windjammer Capital Investors (“Windjammer”) is pleased to announce the acquisition of Advanced Instruments, LLC (“AI” or the “Company”) in partnership with AI’s management team. Terms of the transaction were not disclosed.
Founded in 1955 and headquartered in Norwood, MA, Advanced Instruments is a leading designer, manufacturer and marketer of laboratory test equipment and related consumables for use in clinical, food and dairy, microbiology, pharmaceutical and biotech markets. With an array of technical competencies, including being the world’s foremost authority on the application of Freezing Point Depression technology for measuring the osmolality of solutions, AI serves thousands of end users in over 90 countries under the Advanced Instruments, Fiske and Mart Microbiology brands.
“AI is a terrific addition to the Windjammer portfolio given the strength of its core business and multiple avenues for growth,” said Craig Majernik, Principal at Windjammer. “The Company’s entrenched leadership position, established over many years of delivering superior products and customer service, provides a platform both for new product introductions, like the recently released GloCyte cell counter, as well as strategic acquisitions, where our focus will be on adjacent niche product categories in which AI can leverage its end user customer base, channel partners and brand reputation.”
“We are thrilled to be partnering with Windjammer in our transition from family to private equity ownership,” said John Coughlin, CEO of AI. “They took the time to really understand our business and throughout the diligence process were open, straightforward and fair in all our dealings. We welcome the experience, resources and growth orientation Windjammer brings as we pursue AI’s mission of finding innovative solutions for common laboratory problems.”
"Advanced Instruments represents precisely the type of business we have built our reputation on,” added Greg Bondick, Managing Director at Windjammer, “with its defensible, leading niche market position, mission critical, high cost of failure product offering, recurring revenue stream and attractive return on net assets that will provide significant cash flow to support growth initiatives and drive equity value.”
More information on Advanced Instruments and its products can be found at www.aicompanies.com.
If you would like additional information or have any questions related to this transaction, please contact Craig Majernik or Greg Bondick at 781-530-9100.
Windjammer Capital is a national private equity investment firm, based in Newport Beach, CA and Waltham, MA that invests control equity in middle‐market businesses and in partnership with management. Windjammer manages over $2 billion of committed capital with respect to its control equity investment strategy, and since its founding in 1990, has completed over 50 platform acquisitions and over 100 strategic add‐ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance.
More information on Windjammer can be found at www.windjammercapital.com.