- Kova is the former urinalysis division of Hycor Biomedical
- Baird served as financial advisor to Kova on the transaction
- One Rock invests in the middle market
One Rock Capital Partners has sold Garden Grove, California-based Kova, a maker of in-vitro diagnostic products for clinical labs, to LGC Group. No financial terms were disclosed.
Based in the UK, LGC Group is an international life sciences measurement and tools company.
Kova currently operates two product lines: urinalysis controls, consisting of urine-based controls for urine chemistry and microscopy urinalysis, and toxicology controls, consisting of urine- and saliva-based controls for drugs of abuse screening and confirmation testing.
Kova International, Inc is the former urinalysis division of Hycor Biomedical.
“This transaction marks the end of a partnership between Kova and One Rock, during which we worked closely with Nita Moritz and the Kova management team to enhance the company’s leadership in urinalysis and expand its product lineup into toxicology controls,” said Joshua Goldman, a partner at One Rock in a statement. “We fully expect to see Kova continue to thrive under new ownership.”
Baird served as financial advisor to Kova on the transaction.
One Rock invests in the middle market.