PHILADELPHIA, July 2, 2014 – Graham Partners, a private investment firm focused on investing in businesses with advanced manufacturing technologies, innovative product development capabilities, and strong growth potential, is pleased to announce that its portfolio company, SP Industries (“SP”), a leading designer and manufacturer of laboratory-to-production scale equipment and specialty glassware, has acquired Bel-Art Products (“Bel-Art”). Bel-Art, formerly family-held and located in Wayne, New Jersey, is a global provider of innovative laboratory solutions serving the scientific, industrial, and healthcare end markets. The acquisition enables SP to access new customers and to serve more diverse end markets, enhancing its overall scale and business mix.
Bel-Art’s broad line of consumable laboratory products, coupled with its long-standing industry experience, complements SP’s product offering, strengthens its access to key distributors, and creates opportunities for both revenue and cost synergies. Further, Bel-Art’s engineering know-how and commitment to product innovation will supercharge SP’s new product development efforts. “What differentiates Bel-Art in its unique end market is its passionate commitment to innovation and quality,” remarked Rob Newbold, Managing Principal at Graham Partners. “Bel-Art’s experience, superior customer service, strong brand name, and distribution relationships provide value and strength to the already reputable SP brand. We are optimistic that the incorporation of Bel-Art into the SP platform will enhance its competitive effectiveness and enable SP to continue to deliver a diversified suite of products to its global customer base.”
About SP (www.spindustries.com): Headquartered in Warminster, Pennsylvania, SP Industries, Inc. is a leading designer and manufacturer of laboratory-to-production scale equipment and specialty glassware. SP’s products are principally used in academic research, drug discovery, development, and manufacturing. SP serves a range of industries including the pharmaceutical, biotechnology, scientific, educational, industrial, aeronautic, and semiconductor industries. A primary growth driver for the business is increased adoption of biologically-based drugs and treatment solutions.
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