WESTBROOK, ME (April 26, 2022) – Artel, the internationally recognized gold standard for performance management and optimization of liquid handling workflows throughout the life science industry, today announced the execution of its agreement to be acquired by Advanced Instruments, a leading manufacturer of analytical instruments and services for the clinical, biopharmaceutical, food and beverage sectors.
Founded in 1982 and based near Portland, Maine, Artel is the global leader in low volume liquid delivery measurement and quality assurance. Artel develops and manufactures accurate, precise, and easy-to-use verification and calibration systems, and provides best practices training and certification as well as on-site verification services, and process management software for ensuring NIST-traceable results in life science laboratories. For more than 65 years, Advanced Instruments’ focus on service, quality, and reliability has produced innovative technologies that align with the needs of the markets it serves, helping to improve workflow efficiency, enhance productivity, and ensure best-in-class performance for laboratories worldwide. Both companies are strongly aligned in their mission to help laboratories improve their processes, increase productivity, enhance product quality, and address compliance challenges.
“We are excited about joining the Advanced Instruments team,” said Kirby Pilcher, President of Artel. “Our companies share many similar values and goals including a vision for sustained innovation, a strong connection to the ultimate beneficiaries of our technologies and a desire to provide solutions that drive efficiency and deliver value to our customers. In addition to strengthening our customer relationships, this partnership will provide new and exciting opportunities for our employees.”
“The addition of Artel aligns with our core strategy to develop and commercialize leading technologies that deliver significant customer value across the clinical, biopharma, and food and beverage markets,” commented Byron Selman, President & CEO of Advanced Instruments. “With the strong brand names of Advanced Instruments and Artel, along with our core technologies and services, we will deliver an even more powerful portfolio in support of the sectors we serve.”
“We look forward to Artel joining the Advanced Instruments and Patricia Industries family and continuing on the next phase of growth together,” said Yuriy Prilutskiy, Head of Patricia Industries North America, a part of Investor AB, and owner of Advanced Instruments. “Patricia Industries is committed to supporting the combined Advanced Instruments and Artel teams in their mission to deliver important solutions that help laboratories streamline their processes, improve productivity and ensure compliance which in turn will help improve patient care delivery and biopharmaceuticals development globally. This transaction leverages Patricia Industries’ healthcare and life sciences expertise and aligns with our purpose of creating value for people and society by building strong and sustainable businesses.”
The completion of the acquisition is subject to regulatory approval and the satisfaction of other customary closing conditions.
Artel was represented by J.P. Morgan Securities LLC (exclusive financial advisor) and Cravath, Swaine & Moore LLP and Brann & Isaacson (legal advisors).
Advanced Instruments was represented by Simpson Thacher & Bartlett LLP (legal advisor).
For Further Information:
Contact: Bernadette Danis
Contact: Lisa Fahey
About Advanced Instruments
Advanced Instruments is a global provider of scientific and analytical instruments for the biotechnology, clinical, and food and beverage industries. For more than 65 years, the company’s innovations have helped organizations improve quality of results, achieve reliable outcomes, and increase workplace productivity. Advanced Instruments has a diverse portfolio of products, including freezing point osmometers, cerebrospinal fluid cell counters, anaerobic jar systems, cryoscopes, pasteurization test systems, and testing standards and controls. Advanced Instruments is based in Norwood, Massachusetts and is majority owned by Patricia Industries. For more information, visit www.aicompanies.com.
About Patricia Industries
Patricia Industries, a part of Investor AB, makes control investments in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. Our ambition is to be the sole owner of our companies, together with strong management teams and boards. We invest with an indefinite holding period and focus on building durable value and capturing organic and non-organic growth opportunities. For more information, visit www.patriciaindustries.com.
About Investor AB
Investor, founded by the Wallenberg family in 1916, is an engaged owner of high-quality, global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. For more information, visit www.investorab.com.