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Boston based, Kamylon Capital, has sold its ownership interest in Innovadex, LLC, to Underwriters Laboratories. Innovadex is a B2B business information services company that offers a specialised search and document retrieval capability to assist product developers and formulators in identifying the best materials and suppliers to streamline product development and to accelerate innovation for the chemicals and life sciences industries.
Kamylon invested in Innovadex in 2007 to build upon the company’s technological competitive advantages and to enter new market segments. Notably during the investment period, the company successfully entered three entirely new markets, created a powerful mobile sales support application, and introduced a revolutionary “electronic tradeshow” service that enables trade show participants to catalog and distribute marketing and technical documents electronically within Innovadex’ proprietary search platform.
“We are grateful to Bruce Ianni, Jim Dodd and the rest of the Innovadex management team for what they were able to accomplish,” says Charles Lelon , Managing Partner of Kamylon Capital. “We have enjoyed an outstanding partnership with the company, Bruce and Jim specifically, and are pleased they found a great partner in Underwriters Laboratories for the next stage of the company’s evolution.”
“We were fortunate to have Kamylon as our business partner,” says Bruce Ianni, CEO and founder of Innovadex. “In particular, the Kamylon team imbued the needed discipline, metrics, and strategy to help Innovadex grow and achieve a successful exit.”
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