Graham Partners has acquired SP Industries, a leading designer and manufacturer of medical equipment and components used in pharmaceutical development and production. SP's two primary product categories include laboratory and pharmaceutical research and production equipment as well as laboratory glassware and precision glass components. The Company's principal end markets include the pharmaceutical, educational, industrial, and OEM markets. SP's products are also used for environmental testing as well as flavors and fragrance research and development.
SP manufactures products that play a vital role in the new drug development process, which is a critical growth engine of the pharmaceutical industry. Moreover, as advanced medical care becomes more accessible around the globe and as the world's population ages, the rate of new drug development is projected to increase. The current industry conversion toward biologic and therapeutic protein drugs also aides SP, as virtually all therapeutic proteins depend on freeze drying, an area in which SP is a market leader.
Headquartered in Warminster, PA, SP has two business segments: Research and Process Equipment, including well-known industry brand names such as VirTis, FTS, Genevac, and Hull, which are focused on laboratory research applications and pharmaceutical production freeze dryers; and Research Glass, which offers laboratory glassware and equipment, precision glass components, and nuclear magnetic resonance tubing.
"SP Industries is a dynamic company producing industry-leading technologies and equipment," said Rob Newbold, Managing Principal at Graham Partners. "The Company's exceptional management team, strong brands, loyal customer base, and ability to create innovative and dependable products provide it with a strong competitive advantage."
Chuck Grant, President and CEO of SP Industries, said, "SP has built a reputation within the industry for cutting edge, cost-effective products that deliver high level solutions to the biopharmaceutical industry. I look forward to partnering with Graham to further expand our product portfolio and our global footprint."
Terms of the transaction were not disclosed.