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L Squared Capital Partners completes growth investment in United Scope

L Squared Capital Partners has completed a growth investment in United Scope, resulting in a majority recapitalisation of the business. 

Financial terms of the transaction, which is L Squared’s seventh platform investment in the last three years, have not been disclosed.
 
Headquartered in Irvine, CA, United Scope goes to market primarily under the brand AmScope, which is the leading provider of microscopes and related accessories sold mostly online to a diverse range of end markets including the education sector, life sciences and other scientific research fields, as well as various industrial inspection applications. The Company’s unique modularised design strategy yields an unmatched product portfolio of more than 5,000 SKUs. L Squared’s investment provides a long-term capital base to support the Company’s international expansion strategy, product development efforts, and accretive acquisitions. 
 
United Scope’s Co-founder and majority owner Frank Dai, says: “We are pleased to partner with the L Squared team to drive the next phase of our growth as the leading e-commerce provider of microscopy solutions.  Our partnership will enable United Scope to continue providing world-class optical products and accessories to our customers globally.”
 
“We have been extremely impressed by United Scope’s track record of growth and commitment to excellence and customer service,” says Randall Hunt, Partner at L Squared. “The Company’s vast supply chain network and omni-channel presence has created a leading online position to drive sustainable growth and we are committed to providing the capital, experience, and strategic resources to accelerate organic growth initiatives and pursue accretive acquisitions.”
 
L Squared recruited Brad Staley and Jim Butler to join the Company as CEO and CFO, respectively. Additionally, Bernard Luthi, Lance Stern, and Ron Huberman have joined as independent value added board advisors. 
 
Sean Barrette, Partner at L Squared, says: “We believe United Scope’s founders have done an excellent job building a world-class business that delivers best-in-class service, speed, and quality to its customers. With the additional resources and talent we’ve recruited to the platform, the L Squared team is extremely excited about our investment in United Scope right here in Southern California.”
 
L Squared Capital Partners, together with rollover from United Scope’s founders, contributed the equity for the transaction. Varagon Capital Partners provided debt financing to support the transaction. Paul Hastings served as legal counsel to L Squared. Keystone Capital Markets served as financial advisor and Dentons served as legal counsel to United Scope. The L Squared deal team was comprised of Randall Hunt, Sean Barrette, and Tyler Huez.

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