SAN DIEGO & PHILADELPHIA, October 19, 2021--(BUSINESS WIRE)--LLR Partners today announced an investment in Genesee Scientific, a manufacturer and distributor of products to global life science markets. The partnership will help enable Genesee’s continued growth through investment in its leading product portfolio, scaling of its national footprint and continued excellence in serving its laboratory customers.
Genesee Scientific was founded in 1995 by Ken Fry as an independent laboratory products distributor servicing scientists in the United States. Over the last 26 years, Ken, along with Executive Vice Presidents David Ultis and Jeff Boone, have grown Genesee into one of the largest providers of life science consumables and equipment to the academic and biotech markets globally.
"I am thrilled for this opportunity to work with LLR given their partnership-focused culture, industry expertise and experience helping businesses like ours continue to grow," said Ken Fry, founder of Genesee Scientific, who will continue serving in an active role on the Board of Directors. "We care deeply about our customers and employees. As Genesee enters our next phase of growth, we will continue to invest in our team, systems and products to better serve our customers.’
Sean Patrick, an industry veteran and former executive at Life Technologies and Antylia Scientific, has joined Genesee Scientific as its new CEO. "I am excited and honored to be joining such an incredible team and organization. Along with Jeff Boone, David Ultis and the rest of the Genesee team, we are excited to build upon the strong product portfolio and drive continued innovation in the business to support the needs of our customer base," said Patrick.
Thousands of laboratories globally rely on Genesee Scientific to provide high-quality products and on-time delivery. Genesee is known for its national sales footprint and its leading consumables brands including Olympus laboratory plastics.
"Scientists care about quality, consistency and availability. Genesee’s product portfolio checks all these boxes with a team that goes above and beyond to service customers. We look forward to partnering with the Genesee Scientific team as they continue to expand their resources, customer base and suite of products," said Jesse Gray, Vice President at LLR Partners.
"We are thrilled to be working with the Genesee team at such an exciting time in the life sciences research & development market. Genesee Scientific has served as a key partner to laboratories for more than two decades and will continue to support its customers as they lead innovative research initiatives for the industry," said Michael Levenberg, Partner at LLR Partners.
Capstone Partners served as financial advisor to Genesee Scientific on the transaction.
About Genesee Scientific Corporation
Genesee Scientific Corporation is a manufacturer and distributor of products to global life science research markets. With thousands of products available, its markets include pharmaceutical and biotechnology companies, colleges, universities, and secondary education institutions, medical research institutions, hospitals and reference labs and quality control, process control and research and development laboratories.
About LLR Partners
LLR Partners is a lower middle market private equity firm investing in technology and healthcare businesses. We collaborate with our portfolio companies to identify and execute on key growth initiatives and help create long-term value. Founded in 1999 and with more than $5 billion raised across six funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts. Learn more at www.llrpartners.com.
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Kristy DelMuto, LLR Partners