Avidity Science Announces Agreement to Divest Lab Products & Harford Systems

WATERFORD,Wis.,Sept. 4,2021 -- Avidity Science,a worldwide leader in life science research tools,today announces it has sold its subsidiaries of Lab Products,LLC. and Harford Systems,LLC. to Gen Cap America,Inc. ("Gen Cap"),a private equity firm focused on lower middle market buyouts.

"I want to thank the Lab Products and Harford teams for their innovative and customer-focused approach," said Doug Lohse,CEO of Avidity Science. "I'm confident the acquisition by Gen Cap will better align with Lab Products and Harford System's growth objectives. At the same time,Avidity Science remains focused on providing value to our customers,enabling researchers around the world to deliver life changing innovations to improve the quality of life."

"We are thrilled to partner with the exceptional management team at Lab Products & Harford Systems,led by CEO ­­­­­­­­­­­­­John Soper,in this investment," commented Gen Cap America Managing Director,Chris Godwin. "We look forward to working with the team to further build on the company's long track record of providing the highest quality animal housing and care equipment products and exceptional service to its customers."

Lab Products & Harford are the 14th platform acquisition made from Gen Cap's fund VII.

Lab Products and Harford Systems leadership team remains unchanged in this transaction with John Soper retaining overall responsibility for the newly formed company.

Lohse concluded,"with six acquisitions and a major capacity expansion over the last four years,Avidity Science has established an unmatched solutions portfolio with some of the industry's strongest brands including Edstrom®,Hydropac® and BioMedic Data Systems,strengthening our position as a trusted partner to the research community."

About Avidity Science

Avidity Science is a worldwide leader in water purification and delivery,control and monitoring and service solutions for the life science and biomedical research communities. Since 1969,our mission has been to enable science to improve the quality of life. With operations in the United States,Europe,and Asia,we are a trusted partner to the global research community through unrivaled technology and support. For more information about these investments and our company,please visit www.AvidityScience.com.

About Gen Cap America

Gen Cap America,Inc. is a Nashville-based private equity firm that provides equity for management buyouts,division spinoffs,and recapitalizations of profitable,well-established lower middle market businesses. For more information,visit www.gencapamerica.com.

About Lab Products / Harford Systems

Established in 1969,Lab Products & Harford Systems are a world leader in the design and manufacture of research model housing solutions. Our patented technologies address research issues of protecting research models and scientific personnel,efficient use of available area and operational efficiency. For more information,visit www.labproductsinc.com.