NEWPORT BEACH, CALIF.--(BUSINESS WIRE)--
L Squared Capital Partners announced today the acquisition of Globe Scientific, a leading provider of laboratory consumable supplies. Globe Scientific is L Squared’s third acquisition as part of GSI Group Holdings. GSI Group is a collection of leading brands serving the biotech, clinical diagnostics, life sciences, education, and industrial sectors. With more than $100 million in revenue, GSI Group’s brands collectively offer a broad array of mission-critical lab-related consumable supplies, benchtop equipment, and related accessories. GSI Group has an unmatched geographic footprint with distribution locations on both the east and west coasts of the US as well as offices in Holland, Spain, and China that support customers in over 100 countries. Thousands of the world’s leading research, laboratory, clinical, academic, and industrial institutions rely on GSI Group products every day. Globe Scientific joins existing GSI Group leading brands AmScope, Euromex, Omax, and Physix.
Founded in 1983 by the Diamond Family, Globe Scientific is well known and highly respected throughout the industry for its innovative, high-quality products and exceptional, award-winning customer service. “My family and I are excited to partner with L Squared to become part of the GSI Group platform,” said Dara Diamond, President and CEO. “For the past 38 years, we have been passionate about providing a family-oriented culture for our employees while delivering five-star service and value to our customers and supply-chain partners. We are thrilled to join a platform of companies that share the same passion, vision, and corporate culture mindset.” The Diamond Family will continue as material shareholders in GSI Group. Dara Diamond and Lisa Diamond Berger will join the GSI Group board as part of the transaction.
“Globe Scientific is an excellent addition to our consolidation thesis. We remain bullish on the long-term growth trajectory of scientific research and proud to be building a platform that supplies key products to the life sciences, clinical diagnostic, and academic research sectors,” said Randall Hunt, Partner at L Squared. “We are committed to supporting GSI Group’s growth both organically as well as via acquisitions of additional leading brands in the marketplace.”
GSI Group aims to further consolidate the highly fragmented lab consumables sector. GSI Group is well-capitalized and looking to accelerate its growth by broadening its product portfolio, distribution footprint, and breadth of end markets served through the completion of highly complementary add-on acquisitions. Specifically, GSI Group is aggressively pursuing acquisitions that provide chemicals and reagents, general and life science consumables, kits used in molecular biology applications, lab glassware, analytical instruments, and benchtop lab equipment to its target customer base. Furthermore, GSI Group is seeking to expand its presence in high growth end markets such as biopharma, molecular diagnostics, and food safety testing.
For Additional Information Please Contact:
About L Squared Capital Partners
L Squared Capital Partners is an investment firm headquartered in Newport Beach, CA that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Education Technology, Tech-Enabled Services & Software, and Industrial Technology & Services. Our unique investor base of family offices enables us to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over a decade and have over 100 years of combined experience investing in growing private companies. For additional information, please visit www.LSquaredCap.com.
About GSI Group Holdings
GSI Group Holdings is a US-based holding company of leading branded laboratory consumables and benchtop equipment for the scientific, academic, and industrial communities. GSI Group has an unmatched geographic footprint with distribution locations on both the east and west coasts of the US as well as offices in Holland, Spain, and China, supporting sales in over 100 countries. Our mission is to leverage our unmatched supply chain and award-winning customer service to offer our partners in distribution and end users the most comprehensive product portfolio of laboratory consumables, benchtop equipment and accessories at competitive prices. For additional information, please visit www.GSIgroupholdings.com.
This press release is provided for informational purposes only and is not intended as investment advice or an offer or solicitation with respect to the purchase of any investment. Investing with any investment firm is suitable only for qualified investors that fully understand the risks of such an investment. L Squared Capital Partners is an investment adviser registered with the United States Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Investments with L Squared Capital Partners are only offered in accordance with applicable securities laws.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220427005347/en/
Copyright Business Wire 2022