Graham Partners Gets a Booster with Latest Acquisition
March 2nd, 2011
PHILADELPHIA, March 2, 2011 – Graham Partners has acquired SP Industries, a leading designer and manufacturer of medical equipment and components used in pharmaceutical development and production. SP’s two primary product categories include laboratory and pharmaceutical research and production equipment as well as laboratory glassware and precision glass components. The Company’s principal end markets include the pharmaceutical, educational, industrial, and OEM markets. SP’s products are also used for environmental testing as well as flavors and fragrance research and development.
SP manufactures products that play a vital role in the new drug development process, which is a critical growth engine of the pharmaceutical industry. Moreover, as advanced medical care becomes more accessible around the globe and as the world’s population ages, the rate of new drug development is projected to increase. The current industry conversion toward biologic and therapeutic protein drugs also aides SP, as virtually all therapeutic proteins depend on freeze drying, an area in which SP is a market leader.
During the past 12 months, Graham Partners has invested in eight companies, including the following three new platforms – Eberle, Strata, and SP; and has exited three investments – ICG Commerce, Stormtech, and GP Special Opportunities. Graham Partners specializes in buyouts of middle market manufacturing companies. The firm’s strategy is to acquire industrial and manufacturing-related businesses that are benefiting from product or technology substitution trends and raw materials conversions in their industries, where Graham can utilize its extensive operating resources and industrial network to add value during its holding period.
Headquartered in Warminster, PA, SP has two business segments: Research and Process Equipment, including well-known industry brand names such as VirTis, FTS, Genevac, and Hull, which are focused on laboratory research applications and pharmaceutical production freeze dryers; and Research Glass, which offers laboratory glassware and equipment, precision glass components,and nuclear magnetic resonance tubing.
“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.
About Graham Partners (www.grahampartners.net): 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.
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