Thompson Street Capital Partners (TSCP), in partnership with Arsenal Capital Partners, a New York City-based management and investment firm, announced today the sale of its ownership stake in BioIVT to Linden Capital Partners, a Chicago-based healthcare private equity firm. BioIVT is the market leader in providing mission-critical biological specimens and value-added services for the academic research, pharmaceutical and diagnostics discovery and development markets. Terms of the transaction were not disclosed.
In 2013, in partnership with Management, TSCP began building a leading biological products platform with global reach. Over the years the business completed multiple acquisitions, now rebranded under the BioIVT umbrella, including Baltimore, Maryland-based In Vitro Technologies; UK-based SeraLabs; and Chestertown, Maryland-based ILSbio. To continue BioIVT’s growth strategy, TSCP partnered with Arsenal Capital Partners in 2016 to recapitalize the business and maintained a minority equity ownership interest in the Company.
Bob Dunn, Managing Partner at TSCP, said, “We are very proud to have partnered with BioIVT for so many years to help facilitate tremendous growth and development at the Company. We are confident that the combination of BioIVT and Linden will establish an unparalleled leader in the specialty biological products space.”
