PE-backed Adaptas to buy L3Harris’ applied kilovolts and analytical instrumentation business

Adaptas, a portfolio company of Ampersand Capital Partners, has agreed to acquire L3Harris' applied kilovolts and analytical instrumentation business.

Adaptas, a portfolio company of Ampersand Capital Partners, has agreed to acquire L3Harris’ applied kilovolts and analytical instrumentation business. No financial terms were disclosed. The deal is expected to close in mid-2020.

PRESS RELEASE

PALMER, Mass., Feb. 26, 2020 /PRNewswire/ — Adaptas Solutions, LLC, a leader in mass spectrometry and analytical instrument contract design and manufacturing, and L3Harris Technologies (NYSE:LHX) have signed a definitive agreement for Adaptas to acquire L3Harris’ Applied Kilovolts and Analytical Instrumentation business.

“These strategic acquisitions expand our mass spectrometer component product offering and allow us to continue to build our market-leading position in mass spectrometry components, subassemblies and contract manufacturing,” said Jay Ray, President and CEO of Adaptas Solutions. “Adding the CeraMAX™ product line allows us to cultivate future innovation for our market-leading mass spectrometry OEM customers. The Applied Kilovolts business deepens our product offering while expanding our global manufacturing to now include Europe.”

This latest acquisition further enhances Adaptas’ manufacturing and engineering resources, allowing Adaptas to accelerate OEM client development projects while offering the industry’s broadest range of next generation mass spectrometer detection solutions.

Adaptas Solutions is a portfolio company of Ampersand Capital Partners. Financial terms of the acquisition were not disclosed. The transaction is expected to close in mid-2020.

About L3Harris Technologies
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers’ mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space and cyber domains. L3Harris has approximately $18 billion in annual revenue and 50,000 employees, with customers in 130 countries. Additional information is available at www.l3harris.com/.

About Adaptas Solutions, LLC
Adaptas Solutions, LLC is a strategic OEM supplier for key products and manufacturing service for analytical and laboratory equipment manufacturers. Adaptas’ manufacturing vertical integration strategy allows for rapid to-market product development and best in class costing while delivering high quality products and services. Additional information is available at www.adaptas.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. With offices in Boston and Amsterdam, Ampersand leverages its unique 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, Genewiz, Talecris Biotherapeutics and Viracor-IBT Laboratories. For more information, please visit www.ampersandcapital.com.