EAG, Inc. Acquires ABC Laboratories, Inc., a Leading Analytical Lab Serving Agricultural Chemical and Pharmaceutical Companies
By Business Wire News
By Business Wire News
EAG, Inc. (Evans Analytical Group), the world’s leading, fully integrated, independent laboratory network, providing high value expert analytical and testing services to a broad base of customers in the agrochemical and pharmaceutical industries, announced that it has acquired Analytical Bio-Chemistry Laboratories, Inc., of Columbia, Missouri (“ABC Laboratories”). EAG is a private company, majority owned by Odyssey Investment Partners, LLC. Financial terms of the transaction were not disclosed.
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ABC is a leading Contract Research Organization providing product development and analytical testing services for the Agrochemical and Pharma/Biopharma markets. The company offers a complete range of agricultural product development and GLP-compliant environmental testing services for the Agrochemical industry through its Environmental Services division, as well as a comprehensive suite of development and CGMP and GLP-compliant testing capabilities for small and large molecule therapies and medical devices through its Pharmaceutical Services division.
Over the last three years, the ChemEco division of EAG has become the pre-eminent global provider of analytical and testing services for its clients in agrochemicals, pharmaceuticals and industrial chemicals markets. With the ever-increasing pace of new regulations implemented to safeguard our food and environment around the world, the US EPA and its global counterparts expect a set of comprehensive scientific studies before a chemical is registered for broad use. The acquisition of ABC strengthens EAG’s existing laboratories in the US and Europe and further enhances its leadership in this market of growing importance.
Siddhartha Kadia, Ph.D., CEO of EAG, comments, “ABC has built a very strong reputation with both agrochemical and pharmaceutical clients, and is a strong complementary fit with our business. As government regulations continue to evolve, our clients seek partners with broad capabilities to provide a full suite of laboratory testing services. The combination of the EAG ChemEco and ABC businesses will provide an unparalleled capacity for scientific studies in biology and chemistry, and specifically in analytical chemistry, residue analysis, avian and aquatic ecotoxicology studies, plant metabolism testing, and environmental fate studies. In addition, ABC enables us to enter the small and large molecule pharmaceutical contract research business, one of the most dynamic and largest end markets in analytical laboratory testing. We look forward to welcoming our new colleagues at ABC to EAG.”
John Bucksath, CEO of ABC, commented, “In EAG we have aligned with a great partner that has made a strong commitment to our team going forward. Both of our companies have prioritized cultures of scientific excellence and a client-first mindset. EAG has considerable resources, vision and interest in growing its presence in both the agrochemicals and life sciences markets, and we are confident that as part of EAG, ABC will be even better positioned in the marketplace to broaden its service offerings and capabilities. We all look forward to continuing to grow our business with a very strong partner.”
Randy Paulson, Managing Principal at Odyssey Investment Partners, commented, “We are very pleased to support the EAG management team in executing their vision to create a diversified and leading laboratory testing company backed by significant scientific expertise and knowhow. In the last 15 months, we have significantly strengthened the management team under the leadership of Dr. Kadia and we are particularly pleased to further expand the rapidly growing ChemEco division of EAG.”
About EAG, Inc.
EAG, Inc. is the world’s leading, fully integrated, independent laboratory network providing services to a very wide range of industries. EAG currently has three core divisions: EAG’s Microelectronics Test and Engineering Division provides expert engineering service and support for integrated circuits and microelectronics services in support of the electronics industry; EAG’s Materials Characterization Division provides high value analytical services focused on surface analysis and materials characterization in support of high technology companies in aerospace, consumer electronics, medical devices, pharmaceuticals, semiconductors, defense and automotive markets, and also provides litigation support to clients in claims involving industrial use of materials as well as intellectual property; and EAG’s ChemEco division provides analytical chemistry, environmental fate, metabolism and eco-toxicology services for animal health, agrochemicals, industrial chemicals, and pharmaceuticals markets. EAG has an international network of laboratories, employs 800 employees and serves more than 5,500 customers worldwide. Further information regarding EAG can be found at www.eag.com.
EAG is majority owned by Odyssey Investment Partners, LLC, a leading private equity firm with more than $3.5 billion in capital under management. Odyssey makes majority, control investments primarily in established middle-market industrial manufacturing and business services companies in a variety of industries. Further information regarding Odyssey Investment Partners can be found at www.odysseyinvestment.com.
About ABC Laboratories
ABC Laboratories provides IND-enabling, registration and post-commercialization analytical support for the development, quality control and lifecycle management of agrochemicals and pharmaceuticals. ABC’s personalized, results-based approach to development strategy is backed by decades of experience delivering GLP and CGMP-compliant analytical testing services across all types of active pharmaceutical ingredients and formulations as well as agrochemicals. Through development know-how, cross-disciplinary technical expertise, and applied experience with evolving global regulatory frameworks, ABC helps efficiently manage programs for large and small molecule drugs, medical devices and drug-device combination products, crop biotech products and agricultural chemicals.
ABC is headquartered in Columbia, Missouri and employs more than 430 employees. Further information regarding ABC can be found at www.abclabs.com.