Thompson Street Capital Partners (TSCP), a private equity firm in St. Louis with $1.5 billion of assets under management, announced today that it has partnered with management and its portfolio company, Microbiology Research Associates (MRA) to acquire Accuratus Lab Services (Accuratus), the leading service provider to the developers, manufacturers, and users of antimicrobial products. Accuratus was purchased from Avista Pharma Solutions, Inc., a Contract Development and Manufacturing Organization (CDMO) with facilities in Durham, NC; Longmont, CO and Agawam, MA.
Based in Acton, MA, outside of Boston, MRA (www.mra-bact.com) is a leading provider of customized microbiology testing services with expertise in current Good Manufacturing Practices (cGMP), United States Pharmacopeia (USP) testing for sterile and non-sterile product as well as Drug Quality and Security Act (DQSA) compliance for hospital pharmacies and compounding facilities. MRA is an FDA-registered contract laboratory specializing in product testing, validation and contamination control remediation for Biopharma, Medical Device, Pharmacy and Cosmetic companies. Thompson Street Capital Partners acquired MRA in May 2015.
Headquartered in Eagan, MN, outside of St. Paul, Accuratus (www.accuratuslabs.com) is the leading provider of microbiology, virology, and analytical chemistry GLP testing services to ensure compliance with registration standards for the developers and manufacturers of EPA-regulated antimicrobial and consumer products. In addition, Accuratus helps companies in the medical device and biopharmaceutical industries with method development and validation of cleaning, disinfection, and sterilization procedures.
Following the closing of the transaction, Accuratus’ lab facilities will remain in Eagan, MN, and MRA’s lab facilities will remain outside of Boston.
Fran McAteer, President of MRA said, “MRA is pleased to partner with Accuratus and looks forward to expanding and integrating both companies’ services to provide leadership and further our expertise in microbiological contamination control. With patient care and infection control issues at the forefront of today’s society, growth in disinfectants, preservatives, sanitizers and new antibiotic research is accelerating, and this partnership will have the capabilities to meet these challenges.”
Alan Roth, General Manager of Accuratus, said, “This acquisition strengthens our ability to service our core antimicrobial customers while further diversifying our business service offerings to include new industries. We feel confident this transaction will create a powerful partnership between two leading microbiology labs and are thrilled to partner with MRA’s team of passionate and talented professionals.”
Fairmount Partners (www.fairmountpartners.com), an investment banking firm based in West Conshohocken, PA advised Accuratus; Sidley Austin LLP’s Chicago office (www.sidley.com) and Nolan & Associates (www.nolanassoc.com) based in St. Louis, MO advised MRA.