High Street Capital has sold Avomeen to Element, a portfolio company of Bridgepoint
Founded in 2010, Avomeen is a leader in analytical testing services for key life sciences end markets with a focus on pharmaceutical testing, biotechnology and Food and Drug Administration (FDA) regulated consumer products. The company’s team of scientists and experts bring a high level of technical expertise and breadth of scientific disciplines across formulation chemistry, product manufacturing, extractables and leachables and large molecule testing. Avomeen operates out of a well-invested facility in Ann Arbor, Michigan, and is FDA registered, Drug Enforcement Administration licensed, and International Organization for Standardization accredited.
Avomeen will significantly strengthen the pharmaceutical segment of Element’s life sciences business unit in North America, providing a comprehensive extension to existing range of services and supporting its strategy to become a full-service solutions provider in the life sciences market.
Mark Harvill, Avomeen’s Chief Executive Officer, remarked, “I’m grateful for Lincoln’s partnership and friendship throughout the process, and I look forward to working with Lincoln in the future.”
Tony Crisman, Managing Director at Lincoln, commented, “We are excited to see Avomeen partner with Element, as the combination creates significant value for the customers and employees of both companies. We were honored to work with High Street and Avomeen on this important transaction. We know Mark Harvill and the entire Avomeen leadership team have a bright future ahead.”
Lincoln acted as the exclusive investment banking advisor for High Street and Avomeen, working closely with Avomeen’s management and shareholders throughout the process.
Lincoln was a great ambassador for the company and offered all the qualities of an ideal advisor – a tremendous amount of industry expertise, valuable insights that support business growth and a relentless work ethic from the full team.
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