Globe Scientific Acquired by L Squared Capital Partners
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By LabMedica International staff writers Posted on 02 May 2022 |
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Image: L Squared Capital Partners has acquired Globe Scientific (Photo courtesy of Pexels)
Globe Scientific (Mahwah, NJ, USA), a provider of laboratory consumable supplies, has been acquired by L Squared Capital Partners (Newport Beach, CA, USA), marking its third acquisition as part of GSI Group Holdings.
GSI Group is a collection of brands serving the biotech, clinical diagnostics, life sciences, education, and industrial sectors. With more than USD 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 to research, laboratory, clinical, academic, and industrial institutions across the world. 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. GSI Group is also seeking to expand its presence in high growth end markets such as biopharma, molecular diagnostics, and food safety testing. With its acquisition, Globe Scientific joins the existing GSI Group brands AmScope, Euromex, Omax, and Physix.
“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.”
“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.”
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