Caron Products and Services, a provider of laboratory equipment for drug development and manufacturing, has completed the acquisition of Bigneat, a provider of safety solutions and laboratory products used in the pharma industry.
"Bigneat is an excellent strategic acquisition for Caron," said Jay Hexamer, CEO of Caron. "The companies have complementary products, engineering capabilities, operational expertise and geographic footprint. Caron and Bigneat are both well-positioned to benefit from rapidly growing areas in the life sciences industry, including development of cell and gene therapies, laboratory automation and continued focus on productivity and safety of laboratory professionals."
Founded in 1972, Bigneat’s portfolio includes laboratory fume hoods, controlled atmosphere enclosures, and robotic and automation enclosures.
"The entire team at Bigneat, my family and I are all incredibly excited to join Caron," said Robert Monks, MD and CEO of Bigneat. "The combination of our strong European network and Caron's market leadership in the U.S. provides immediate opportunities to both businesses to better serve our customers."
"We are also excited to partner with SFW Capital in this transaction," said Monks. "They have backed some of the most successful businesses in the laboratory sector, and we have every confidence that Caron and SFW are the right partners for us to build on our strong legacy, better serve our customers, bring new solutions to market, and provide opportunities for our employees."
"When we invested in Caron, we saw the opportunity to expand the business through a range of organic growth initiatives and strategic acquisitions," said Ahmad Sheikh, Caron Board member, and Partner at SFW Capital Partners. "The strategic acquisition of Bigneat – particularly the addition of technical talent, expanded offering, and complementary customer segments – is an important step toward building Caron into a market-leading provider of laboratory equipment used in research, development, production and quality control processes in the global life sciences sector."