Arsenal Capital Partners (Arsenal), a private equity firm that specialises in investments in healthcare and industrial companies, has completed a majority recapitalisation of BioIVT, Inc (BioIVT) with Linden Capital Partners (Linden), a Chicago-based healthcare private equity firm. The terms of the transaction were not disclosed.
Headquartered in Westbury, New York, BioIVT is the market leader in providing of mission-critical biological specimens and value-added services for the academic research, pharmaceutical, and diagnostics discovery and development markets.
Gene Gorbach, an Investment Partner of Arsenal, says: “We are proud to have partnered with the talented team at BioIVT in building an enterprise that supports tens of thousands of scientists worldwide. BioIVT’s products and services enable scientists to more accurately determine efficacy and safety of new therapies and, in doing so, minimise the risk and optimise the effectiveness of subsequent research. We are pleased to maintain our support of this important mission as continuing investors in the company.”
“We are delighted to have worked with the talented management team and employees of BioIVT in executing an ambitious growth strategy to build a market-leading company,” says Dave Spaight, an Operating Partner of Arsenal who served as Executive Chairman of BioIVT for the last five years. “BioIVT is uniquely positioned to facilitate the safe and effective progress of research to bring therapeutics and diagnostics to all of us whose health and wellbeing are supported by advances in science and clinical care.”
Jeff Gatz, CEO of BioIVT, states: “We are grateful to Arsenal for its strategic and operational support in helping us substantially broaden our capabilities in delivering on our mission of Elevating Science. We are excited about our new partnership with Linden and delighted to have Arsenal continue its involvement with BioIVT.”