Ampersand Capital Partners has made an investment in Palmer, Massachusetts-based Detector Technology Inc, a provider of analytical instrument contract design and manufacturing services. No financial terms were disclosed.
PALMER, Mass., Jan. 4, 2018 /PRNewswire/ — Detector Technology, Inc., (“DeTech”) a leader in analytical instrument contract design and manufacturing, with a focus on mass spectrometry products, today announced an equity investment by Ampersand Capital Partners (“Ampersand”), a private equity firm with a focus on growth equity investments in healthcare. Ampersand’s capital and decades of sector expertise will be utilized for consolidation of the lab instrument contract manufacturing industry as DeTech expands to meet the needs of an increasingly global customer base.
The global instrumentation market is expected to grow 5-6% per annum for the next five years, with certain clinical and pharmaceutical R&D technology segments growing 8-12%. DeTech’s growing presence in fluidic handling and lab automation has positioned it as a preferred strategic development and manufacturing partner for many leading industry OEMs. The company’s vertically-integrated design-production model allows for reduced time to market, critical process control and best-in-class costing.
“DeTech has a long-standing history in the analytical industry supplying key components and services to our customers,” said Jay Ray, President and CEO of DeTech. “Ampersand recognizes the importance of prioritizing the customer’s technology and support needs. This investment further enables us to develop new products, enhance our global customer service and acquire complimentary product lines and global design and production centers closer to our customer-partners.”
“DeTech has a proven track record of success for its life science instrument customers utilizing concept-to-production integration,” said Geoff Teillon, Partner at Ampersand. “Our investment in DeTech emphasizes Ampersand’s focus on fueling innovation by partnering with companies exhibiting relentless passion to consistently exceed customer expectations.”
Financial terms of the investment were not disclosed.
About Detector Technology, Inc
Detector Technology, Inc. is a strategic OEM supplier for key products and manufacturing service for analytical and laboratory equipment manufacturers. DeTech’s manufacturing vertical integration strategy allows for rapid to market product development and best in class costing while delivering high quality and service. Additional information is available at www.detechinc.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. Ampersand leverages its 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, Genoptix, Talecris Biotherapeutics and Viracor-IBT Laboratories. Additional information about Ampersand is available at www.ampersandcapital.com.