May River Capital has acquired Cleveland-based NSL Analytical Services, an independent testing lab. No financial terms were disclosed.
CLEVELAND, Jan. 15, 2020 /PRNewswire/ — NSL Analytical Services, a recognized leader among independent testing laboratories, today announced the company has been acquired by May River Capital, a Midwestern investment firm with a unique approach to building businesses through partnership and collaboration.
NSL Analytical first opened its doors in 1945. Under the more recent visionary leadership of Larry Somrack, the company has grown to approximately 75 employees serving over 1,700 customers globally from two locations in Warrensville Heights, a Cleveland suburb. Today, NSL’s talented chemists, metallurgists, and technicians help customers achieve the highest standards of product quality from the design phase to product launch; testing metals, alloys, plastics, composites, and ceramic materials in powdered, solid, and liquid form.
“The board and I carefully evaluated the next phase of development for NSL, our employees and our customers. We are pleased to be partnering with a group in May River that is like-minded and aligned with us on both the cultural values and the strategic path necessary to meet our collective goals,” said Somrack.
Somrack will continue with NSL Analytical as President Emeritus, lending his deep knowledge and years of experience to the next stages of the company’s development. Joining the leadership team with Somrack will be Ron Wesel, Carey Lewis and Andy Housley. Wesel, who will serve as chief executive, is a seasoned general management and commercial leader with a career built on leading global teams through transformational growth in small and large businesses alike. Lewis, who will serve in growth and development, brings significant experience guiding strategic vision in the testing, inspection, certification and compliance industry, including with Eurofins Scientific, EAG Laboratories and Underwriters Laboratories. Housley, who will lead finance and administration, began his career with PricewaterhouseCoopers, LLP prior to leading global financial operations within Eurofins Scientific and EAG Laboratories. “I am excited to work with Ron, Carey and Andy to drive innovation for our customers and build upon the accomplishments and strengths of our talented team,” Somrack said.
“Thanks to Larry’s decades of leadership, NSL’s expert team, and the value they provide customers around the world, NSL has experienced consistent and impressive growth,” said Wesel. “We are excited to preserve and build upon that legacy, and to support the kind of continued investment in innovation, scientific capabilities and talent that will drive NSL Analytical forward in the future,” added Wesel.
For more information on NSL Analytical Services, please visit www.nslanalytical.com
For more information on May River Capital, please visit www.mayrivercapital.com