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EAG Acquires Chemir, CAS-MI and Cyanta

Evans Analytical Group, the leading global provider of surface analysis and materials characterization services, microelectronics “release to production” and electronic failure analysis services, today announced that it has acquired Chemir...

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Evans Analytical Group, Inc. (EAG) the leading global provider of surface analysis and materials characterization services, microelectronics “release to production” and electronic failure analysis services, today announced that it has acquired Chemir Analytical Services and its affiliates CAS-MI Laboratories and Cyanta Analytical Services. Chemir and CAS-MI will continue to operate under their current names, and Cyanta will begin the process to be renamed EAG Life Sciences to reflect its planned expansion of service offerings. All three laboratories will continue operations at their respective facilities. Financial terms of the transaction were not disclosed.

The acquisition of Chemir allows EAG to better serve the industry-specific needs of its diverse clients. This includes medical device and pharmaceutical companies who require FDA testing beyond materials characterization and clients seeking to develop novel coating technologies beyond surface analysis investigations. Furthermore, the addition of Chemir gives EAG’s clients greater access to industry leading analytical capabilities to determine the source of product failures or help defend a patent infringement case. Chemir’s customers will benefit from access to a worldwide network of laboratories and industry leading surface analysis and materials characterization capabilities to support product development and analytical investigations.

Chemir Analytical Services of St. Louis, MO, has built its reputation by solving unique challenges associated with product failures across diverse industries including identification of contaminants, deformulation of products and litigation support for patent infringement cases. CAS-MI Laboratories of Ypsilanti, MI, has provided analytical services for the polymer, paints, coatings, adhesives and sealants industries since 1943. More recently, CAS-MI has assisted entrepreneurs in product development for novel paint and coating technologies. Cyanta Analytical Services, also of St. Louis, MO, provides services to support pharmaceutical and medical device development. Cyanta currently specializes in cGMP and GLP analytical services such as stability programs, extractables & leachables, bioanalysis and custom synthesis.

Harry Davoody, CEO of EAG states, “With this acquisition we are excited that EAG can deliver our elite services to customers across a broader range of analytical, test and development offerings. The combination of our companies and integrated scope of services means EAG is a stronger partner for our clients, enabling them to more effectively achieve their time to market or solutions goals.”

“The addition of Chemir’s capabilities expands both EAG’s and Chemir’s clients access to high value services. EAG is committed to providing the resources for Chemir and its laboratories to be a trusted partner for customer’s projects on a long term basis,” concluded Mr. Davoody.

David W. Riggs, President of Chemir, affirmed that, “Chemir is pleased to become part of an organization as solid as EAG. Over the past year and a half we have experienced our share of hurdles and with EAG as our new owner we have the financial resources and stability our clients deserve. We also feel Chemir’s long-term growth will benefit tremendously from EAG’s global reach and experience with international clients. Until now, Chemir has been primarily focused on U.S. clients.” Mr. Riggs continues, “We believe this acquisition will greatly enhance our failure analysis and investigational capabilities due to EAG’s extensive knowledge and instrumentation related to materials characterization and surface analysis.”

EAG is majority owned by Odyssey Investment Partners, LLC, a leading private equity firm with more than $2 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.