Huron Capital has acquired Ronkonkoma, New York-based Lab Crafters, a maker of specialized furniture for laboratories in the biotech, pharmaceutical, higher education and government sectors. No financial terms were disclosed.
DETROIT, March 3, 2020 /PRNewswire/ — Leading lower-middle-market private equity firm Huron Capital today announced that it has acquired Lab Crafters, a manufacturer of specialized furniture for laboratories in the biotech, pharmaceutical, higher education, and government sectors.
Ronkonkoma, New York-based Lab Crafters, which manufactures high-quality laboratory furniture systems, casework, and fume hoods in the U.S., has earned a strong reputation as a premium brand in a highly specialized market, building close relationships with its loyal, highly respected customer base.
“Lab Crafters offers competitive, differentiated products to its customers,” said Brian Walker, Partner of Strategic Leadership at Huron Capital. “The company has already gained meaningful share in the laboratory furniture market, and its loyal customers include some of the nation’s largest Fortune 500 companies and premier research institutions. Huron has invested in Lab Crafters because we believe the company is capable of accelerated growth and we are focused on pursuing a number of strategic initiatives to diversify and expand this runway.”
Walker, a former CEO of Herman Miller, will serve as a member of Lab Crafters board of directors. Founder Robert DeLuca, Sr. will continue to lead the company as CEO, and Robert DeLuca, Jr. will continue to operate as President.
“We are proud to have built Lab Crafters into one of the leading manufacturers of specialized furniture for laboratories in the U.S.,” DeLuca, Sr. said. “We are confident that our partnership with Huron will provide the necessary capital and industry expertise to further accelerate our national growth while we continue to serve our existing customers.”
“Robert DeLuca, Sr. and his management team have developed Lab Crafters into a company that is well respected by its customers, makes products that are increasingly sought after by the market, and is ultimately poised for growth,” said Huron Capital Partner Scott Hauncher. “We are excited about Lab Crafters future and pleased to welcome the company to our firm as its newest platform.”
About Huron Capital
Based in Detroit, Huron Capital is an operationally focused private equity firm with a long history of growing lower middle-market companies through our proprietary ExecFactor® buy-and-build investment model. We prefer complex situations where we can help companies reach their full potential by combining our operational approach, substantial capital base, and transaction experience with seasoned operating executives. Founded in 1999, Huron Capital has raised over $1.8 billion in capital through six committed private equity funds and invested in over 190 companies, and our portfolio companies have employed over 11,000 people throughout North America. The Huron Capital buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron Capital targets both control and non-control equity stakes in fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials. For more information, please visit: www.huroncapital.com.
About Lab Crafters
Lab Crafters is a family-owned and operated business, tracing its history through three generations. Lab Crafters has enjoyed steady growth through the years by providing the highest quality products in the market and developing innovative designs. Lab Crafters introduced the first high performance, low velocity fume hood to the industry in 1997. The Air Sentry fume hood revolutionized fume hood performance paradigms and gave rise to safer and more efficient fume hoods. Lab Crafters continues to stay on the leading edge of industry trends by conducting a significant amount of research with designers, architects, and user groups. Our fume hoods and furniture systems are the basis of design for countless high-end science and technology projects. For more information, please visit: www.lab-crafters.com.