M&A Deal Summary

Agrify Acquires Precision Extraction

On October 4, 2021, Agrify acquired test/measurement equipment company Precision Extraction from Sinclair Scientific

Acquisition Highlights
  • This is Agrify’s 2nd transaction in the Test/Measurement Equipment sector.
  • This is Agrify’s 2nd transaction in the United States.
  • This is Agrify’s 1st transaction in Michigan.

M&A Deal Summary
Date 2021-10-04
Target Precision Extraction
Sector Test/Measurement Equipment
Buyer(s) Agrify
Sellers(s) Sinclair Scientific
Deal Type Divestiture

Target

Precision Extraction

Troy, Michigan, United States
Precision Extraction engages in cannabis and hemp extraction equipment, technology, lab design, and site planning, compliance, training, and consulting. Precision offers cutting-edge solutions for cannabis and hemp processors at every stage of growth. Precision Extraction is based in Troy, Michigan.

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Buyer(S) 1

Buyer

Agrify

Troy, Michigan, United States
Category Company
Founded 2016
Sector Agriculture
Employees39
Revenue 17M USD (2023)
DESCRIPTION

Agrify develops precision hardware and software grow solutions for the indoor agriculture marketplace. The company offers vertical farming units, integrated grow racks, and LED grow lights; and non-proprietary products designed, engineered, and manufactured by third parties, such as air cleaning systems and pesticide-free surface protection products. It provides associated services comprising consulting, engineering, and construction. Agrify was founded in 2016 and is based in Troy, Michigan.

DEAL STATS #
Overall 2 of 5
Sector (Test/Measurement Equipment) 2 of 2
Type (Divestiture) 2 of 2
State (Michigan) 1 of 1
Country (United States) 2 of 5
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-04 Cascade Sciences

Hillsboro, Oregon, United States

Cascade Sciences is a provider of professional-grade processing solutions. Cascade's extensive line of vacuum, drying, and decarboxylation ovens, reactor systems, rotary evaporators, vacuum cold traps, chillers, homogenizers, laboratory baths, moisture analyzers, and scientific balances set the standard in laboratory testing and processing solutions. Cascade Sciences is based in Hillsboro, Oregon.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-02 Lab Society

Boulder, Colorado, United States

Lab Society is developing state-of-the-art distillation and solvent separation extraction solutions for the cannabis and hemp industry. Lab Society proprietary software, EliteLab provides the comprehensive ability to maximize hardware utilization featuring control of temperature control units (TCUs), pressure controllers and gauges, balances, and scales, and agitation stir controllers. Lab Society was founded in 2015 and is based in Boulder, Colorado.

Buy $8M

Seller(S) 1

SELLER

Sinclair Scientific

Troy, Michigan, United States
Category Company
Sector Test/Measurement Equipment
DESCRIPTION

Sinclair Scientific engages in providing the cannabis and life sciences industries with innovative process technologies. Sinclair provides the most comprehensive and diverse lineup of cannabis and hemp extraction processing technology providing end-to-end integrative solutions for its customers. Sinclair Scientific is based in Troy, Michigan.

DEAL STATS #
Overall 2 of 2
Sector (Test/Measurement Equipment) 2 of 2
Type (Divestiture) 2 of 2
State (Michigan) 1 of 1
Country (United States) 2 of 2
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-04 Cascade Sciences

Hillsboro, Oregon, United States

Cascade Sciences is a provider of professional-grade processing solutions. Cascade's extensive line of vacuum, drying, and decarboxylation ovens, reactor systems, rotary evaporators, vacuum cold traps, chillers, homogenizers, laboratory baths, moisture analyzers, and scientific balances set the standard in laboratory testing and processing solutions. Cascade Sciences is based in Hillsboro, Oregon.

Sell -
Mergr

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