Inverness Graham-backed KICTeam acquires Teknipure
Inverness Graham Investments, a private investment firm targeting tech-enabled manufacturing, service and software companies, has added Teknipure to it announced today that its proprietary cleaning consumables platform, KICTeam.
Based in Mesa, Arizona, Teknipure is a specialist in the design, manufacture and marketing of specialty cleaning products targeting regulated and contamination-controlled fabrication environments such as cleanroom processing facilities.
"We are very excited to have completed the acquisition of Teknipure," says Trey Sykes, Managing Principal at Inverness Graham. "By investing in Teknipure, we significantly expanded our platform's addressable markets into other high growth, high cost of failure vertical markets such as pharmaceutical, biopharma, and medical device. As part of KICTeam, Teknipure will be able to leverage the platform's core capabilities in product development, marketing, and sourcing in providing optimal solutions for its end-customers."
Ian McCormick, CEO of KICTeam, says: "Teknipure is a natural expansion of KICTeam's capabilities. Their focus on quality, innovative product development, high service, and brand represents many foundational aspects of our platform. We are excited to further add to our technical capabilities and expand our diverse customer base that operates in attractive, high growth end markets."
Chris Heiland, founder of Teknipure, adds: "Driven by a combination of the underlying growth in healthcare and life sciences, additional demand spurred by COVID-19, and our strong product offering and service, we have a tremendous opportunity to further grow our business. By joining forces with Inverness and KICTeam, we have started the process of significantly expanding our capacity and building inventory levels to meet increasing current and new customer demand."
Inverness and KICTeam continue to look for add-on acquisitions with more than $4 million in revenue that provide custom, proprietary cleaning products serving the biopharma, medical device, pharmaceutical, compounding pharmacy, aerospace, semiconductor, and other specialty end markets.
Terms of the acquisition have not been disclosed.