Wayne, PA, August 17, 2023 – Inverness Graham, a Philadelphia based buyout firm that acquires innovative companies where technology is transforming traditional industry, announced today that it has acquired Azer Scientific (“Azer”) and Azer will be combined with portfolio company Electron Microscopy Sciences (“EMS”). Based in Morgantown, PA, Azer is a leading provider of laboratory consumables and equipment to the life sciences markets for clinical, diagnostic, histology and research applications. The combined company will create a market-leading solutions provider for research, clinical and industrial lab supplies and services. EMS is a portfolio company of Inverness Graham Investments IV, which is focused on innovative, high-growth lower middle market businesses in healthcare, advanced manufacturing and software / tech-enabled services.
“The combination of EMS and Azer is transformative and creates a more diversified platform with broader capabilities and reach within the life sciences research and clinical diagnostics markets,” stated Paul Nolen, Managing Principal at Inverness Graham. “The businesses are highly complementary, and this transaction significantly expands the platform’s addressable market, offering significant growth opportunities for the broader platform. We look forward to supporting the combined team on the company’s strategic growth initiatives.”
“We are delighted to enter our next phase of growth in partnership with Azer and with the continued support of Inverness Graham,” stated Rajan Kapadia, CEO of EMS. “Lab customers continue to face increasing and evolving challenges. Our new company combines two trusted brands, enabling EMS and Azer to serve our customers in new ways while maintaining our high levels of service.”
Mr. Kapadia will lead the combined entity as CEO.
Terms of the transaction were not disclosed. Azer was represented by Delancy Street Partners in the transaction.
About Inverness Graham Investments
Inverness Graham is a Philadelphia based buyout firm that acquires innovative companies where technology is transforming traditional industry. The firm’s Flagship strategy focuses on high-growth businesses leveraging technology in Healthcare, Software and Advanced Manufacturing. The firm’s Green Light strategy targets technology-enabled businesses where Environmental Sustainability is a key driver of accelerating growth. Inverness Graham executes a differentiated, repeatable model for value creation through its proprietary “Strategic Platform Build” approach. Founded by senior executives of the Graham Group, the firm builds upon a 60-year legacy of operational excellence, bringing substantial value creation resources and an innovative mindset to support its portfolio company partners.
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