M&A Deal Summary

Cole-Parmer Instrument Acquires Environmental Express

On December 31, 2014, Cole-Parmer Instrument acquired environmental company Environmental Express from Incline Equity Partners and PNC Riverarch Capital

Acquisition Highlights
  • This is Cole-Parmer Instrument’s 1st transaction in the Environmental sector.
  • This is Cole-Parmer Instrument’s 1st transaction in the United States.
  • This is Cole-Parmer Instrument’s 1st transaction in South Carolina.

M&A Deal Summary

Date 2014-12-31
Target Environmental Express
Sector Environmental
Buyer(s) Cole-Parmer Instrument
Sellers(s) Incline Equity Partners
PNC Riverarch Capital
Deal Type Add-on Acquisition

Target

Environmental Express

Charleston, South Carolina, United States
Environmental Express is a developer, manufacturer and distributor of environmental laboratory equipment and consumable supplies for commercial, governmental, industrial and academic laboratories worldwide. The company provides an entire range of laboratory products used in applications such as water/wastewater analysis, oil and grease analysis, metals analysis and hazardous waste analysis. We pride ourselves on providing innovative products, superior technical support, knowledgeable customer service and same day shipping.

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Buyer(S) 1

Buyer

Cole-Parmer Instrument

Vernon Hills, Illinois, United States

Category Company
Founded 1955
Sector Test/Measurement Equipment
DESCRIPTION

Cole-Parmer Instrument is a global source of fluid handling, test & measurement, environmental and biosciences instrumentation and associated consumables. Cole-Parmer is proven experts in the fields of peristaltic technologies, temperature measurement, and control, electrochemistry, water & air testing and chromatography. Cole-Parmer’s portfolio of unique industry-leading brands includes Masterflex, Environmental Express, and Traceable. Cole-Parmer’s products are used in both research and production applications for a diverse range of customers across the life sciences, healthcare, environmental, and industrial end-markets. Cole-Parmer Instrument was founded in 1955 and is based in Vernon Hills, Illinois.


DEAL STATS #
Overall 1 of 4
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 4
State (South Carolina) 1 of 1
Country (United States) 1 of 3
Year (2014) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Bibby Scientific

Staffordshire, United Kingdom

Bibby Scientific is a designer and manufacturer of bench-top laboratory equipment. It supports and sells its products worldwide through a global network of representative companies and distributors. Bibby Scientific was founded in 2007 and is based in Staffordshire, United Kingdom.

Buy -

Seller(S) 2

SELLER

Incline Equity Partners

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1982
PE ASSETS 5.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Incline Equity Partners is a private equity firm focused on lower middle-market growth companies. The Firm targets companies located in the US and Canada with enterprise values ranging from $25 to $750 million. Prospective transaction types include buyouts, minority recapitalizations, and corporate divestitures. Incline Equity Partners was formerly known as PNC Equity Partners. The Firm is based in Pittsburgh.


DEAL STATS #
Overall 18 of 39
Sector (Environmental) 3 of 3
Type (Add-on Acquisition) 8 of 11
State (South Carolina) 1 of 1
Country (United States) 17 of 38
Year (2014) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-25 apexanalytix

Greensboro, North Carolina, United States

apexanalytix is a provider of supplier management, audit, recovery, and compliance software, and services. apexanalytix was founded in 1988 and is based in Greensboro, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-12 Burke

Fond du Lac, Wisconsin, United States

Burke is a provider of commercial play and outdoor recreation solutions for public parks, educational institutions, early childcare centers, and commercial developments. The Company specializes in play systems and provides a wide array of other playground and recreation necessities, including outdoor musical instruments, safety surfacing, outdoor fitness products, and site amenities. Burke’s advanced modular play systems can be configured and customized in a myriad of ways with colors, designs, and different levels of challenge. Its products are not only for physical movement; they ignite cognitive, social, emotional, and imaginative skill development in children of all abilities. Burke was formed in 1920 and is based in Fond du Lac, Wisconsin.

Buy -
SELLER

PNC Riverarch Capital

Pittsburgh, Pennsylvania, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2011
PE ASSETS 250M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PNC Riverarch Capital is a middle-market private equity group that invests in privately-held companies headquartered throughout North America. The Group looks to commit $10 to $50 million to help fund recapitalizations, leveraged and management buyouts, corporate divestitures and growth financings. Target sectors include business and industrial services, specialized manufacturing, and value-added distribution. PNC Riverarch was formed in 2011 and is an affiliate of PNC Financial Services Group.


DEAL STATS #
Overall 2 of 18
Sector (Environmental) 1 of 1
Type (Add-on Acquisition) 1 of 5
State (South Carolina) 1 of 1
Country (United States) 2 of 16
Year (2014) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-18 Authority Brands

Columbia, Maryland, United States

Authority Brands is a parent company of two home service franchisors, The Cleaning Authority and Homewatch CareGivers. Together, these brands provide recurring home services through more than 300 franchise locations in the U.S., Canada, and Latin America. Authority Brands was formed in 2017 and is based in Columbia, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-20 Electrical Source Holdings

Burbank, California, United States

Electrical Source is the specialty distributor of need-it-now critical power components including circuit breakers, fuses, motor controls, disconnects, and more for diverse commercial and industrial applications. The company offers the industry’s broadest and deepest inventory covering all major OEM brands and spanning numerous product generations, complemented by superior product support from an experienced and technical sales team. Electrical Source Holdings is based in Burbank, California.

Buy -