#United States #Lafayette Instrument #Alzet Pumps #Branford Castle #Boca Raton

Lafayette Instrument Expands Its Footprint in Life Sciences Research

In a significant move aimed at enhancing its capabilities within the life sciences sector, Lafayette Instrument, LLC, a prominent entity specializing in scientific instrumentation for life sciences, has announced its acquisition of Alzet Osmotic Pumps from DURECT Corporation. This acquisition, which took place in late November 2024, marks a critical step for Lafayette as it aims to broaden its offerings in the scientific community.

A Strategic Acquisition

Lafayette Instrument is no stranger to strategic growth through acquisition; this deal marks their fourth bolt-on investment since Branford Castle Partners took ownership in 2021. Branford Castle, known for its focus on lower middle-market investments, has been active in the industry, completing five significant transactions in recent months, including the recent acquisitions of Hoffman Engineering and Testek Solutions. The acquisition of Alzet aligns perfectly with Lafayette's ongoing strategy to enhance its product range and support its commitment to life sciences research.

Role of Alzet in Life Sciences

Alzet is renowned for its advanced infusion pumps and accessories, which play a vital role in preclinical research, providing universities and research organizations with precise and continuous dosing capabilities. By incorporating Alzet’s products into its portfolio, Lafayette Instrument aims to bolster its support for academic and research communities, thereby contributing to groundbreaking discoveries in various biomedical fields.

Ceon Francis, Managing Director at Branford Castle, expressed enthusiasm about the potential of this acquisition, stating, "This acquisition provides Lafayette with the opportunity to increase its product offerings to both existing and new life sciences customers." He acknowledged the collaborative efforts between Branford Castle and the Lafayette management team to ensure the company’s growth trajectory continues positively.

Commitment to Quality and Innovation

Benjamin Mangrich, CEO of Lafayette Instrument, shared his excitement about the integration of Alzet's osmotic pumps into their existing lineup. He remarked, "Alzet osmotic pumps are a fantastic addition to our life science instruments. We look forward to maintaining a legacy of premier products that support life-changing research initiatives."

Financial Insights and Future Prospects

The acquisition was facilitated with the guidance of several advisory firms. Branford Castle utilized Akerman LLP for legal counsel, while RSM provided accounting and tax advisory services. Aquilo Partners, L.P. served as a financial advisor to DURECT, while Wilson, Sonsini, Goodrich & Rosati acted as their legal advisors. The financial aspects of the transaction are supported by Byline Bank, supplying senior debt financing, and Brookside Capital Partners offering mezzanine debt financing.

Branford Castle's robust investment approach is evident, having honed its expertise in sectors spanning industrials and specialty manufacturing to consumer products and business services. Their strategic focus is on nurturing growth within niche industries, and the acquisition of Alzet continues this tradition.

About the Companies

Lafayette Instrument boasts over 75 years of expertise in creating high-quality scientific instruments and data acquisition equipment across various disciplines, including biology, neuroscience, and medical research. This extensive experience positions Lafayette at the forefront of scientific innovation, serving critical needs in both academia and industry.

Branford Castle Partners operates with a philosophy grounded in creating and sustaining relationships with portfolio company managers, focusing on maintaining a leadership presence in each niche they invest in. Their efforts not only enhance company performance but also aim to increase the overall impact on the sectors in which they operate.

In conclusion, the acquisition of Alzet Osmotic Pumps by Lafayette Instrument is more than just a business transaction; it symbolizes a commitment to advancing life sciences research and supporting innovations that can lead to transformative health care solutions. With this acquisition, Lafayette is poised to make significant contributions to scientific discovery in the years to come.