Acquisition to expand global footprint, enhance product development and broaden Adaptas' scientific instrument industry leadership position
PALMER, Mass., May 19, 2020 /PRNewswire/ -- Adaptas Solutions, LLC, a leader in mass spectrometry and analytical instrument contract design and manufacturing, completed the previously announced acquisition of L3Harris Technologies' (NYSE: LHX) Applied Kilovolts and Analytical Instrumentation business.
"We are excited to complete the addition of these highly strategic assets which immediately expand our mass spectrometer component offerings and further establish Adaptas as a leading provider of components, subassemblies, and contract manufacturing to the global analytical instrumentation market," said Jay Ray, President and CEO of Adaptas Solutions. "With the CeraMAXTM and Applied Kilovolts business units now a part of Adaptas, we look forward to continuing our commitment to driving market-leading innovation in the mass spectrometry market and to begin leveraging our new manufacturing presence in Europe to best support global OEM customers."
This acquisition further enhances Adaptas' manufacturing and engineering resources, allowing Adaptas to accelerate OEM client development projects while offering the industry's broadest range of next generation mass spectrometer detection solutions.
Adaptas Solutions is a portfolio company of Ampersand Capital Partners. Financial terms of the acquisition were not disclosed.
About L3Harris Technologies
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers' mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 50,000 employees, with customers in 130 countries. Additional information is available at www.l3harris.com
About Adaptas Solutions, LLC
Adaptas Solutions, LLC is a strategic OEM supplier for key products and manufacturing service for analytical and laboratory equipment manufacturers. Adaptas' manufacturing vertical integration strategy allows for rapid to-market product development and best in class costing while delivering high quality products and services. Additional information is available at www.adaptas.com
About Ampersand Capital Partners
Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of our core healthcare sectors, including Brammer Bio, Confluent Medical, Genewiz, Talecris Biotherapeutics and Viracor-IBT Laboratories. For more information, please visit www.ampersandcapital.com.
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SOURCE Adaptas Solutions, LLC