Pike Street Capital has acquired Shoreline, Washington-based US BioTek, a provider of testing services for food-related allergies and intolerances. No financial terms were disclosed.
SEATTLE (December 18, 2018) Pike Street Capital (Pike Street) announced today the acquisition of US BioTek Laboratories, Inc. (US BioTek), a world-wide leader in specialty testing services for food-related allergies and intolerances. The investment is targeted towards expanding and improving the specialty testing services US BioTek provides its core customer base of health and wellness professionals.
“US BioTek is an impressive company and, as awareness of food allergies and intolerances continues to grow, one well-positioned to help clinicians assist patients to make better decisions about their health,” said Dave Dandel, partner at Pike Street Capital. “US BioTek’s commitment to quality and customer service is an excellent foundation for future growth in the burgeoning health and wellness industry.”
Headquartered in Shoreline, Washington, US BioTek is a Clinical Laboratory Improvement Amendments (CLIA) accredited testing facility that provides a variety of immunology and chemistry profiles to clinicians worldwide. The company was founded and is currently led by Raymond and Margaret Suen, who will remain as investors in US BioTek as they transition to advisory roles.
“US BioTek has been looking for a strategic partner that shared our vision for future growth, and that’s exactly what we found in Pike Street Capital,” said Raymond Suen, US BioTek’s president. “Pike Street’s strategy-to-execution operating model gave us confidence they were bringing operational excellence to the table along with their financial investment, which benefits our customers and employees alike.”
Pike Street Capital’s investment will help US BioTek improve the quality, efficiency and speed of its testing and reporting capabilities; expand sales and marketing capacity to reach a growing customer base; and bring in new executive leadership to help scale the business.
“This investment in US BioTek is all about growing and expanding an exciting and successful company,” said Paul Caragher, partner at Pike Street Capital. “Since day one, we’ve been completely impressed by the quality of US BioTek’s team and lab, and we’re excited about the opportunities ahead of us as we extend the reach and capabilities of the business.”
About US BioTek Laboratories
Headquartered in Shoreline, Washington, US BioTek Laboratories, Inc. is a Clinical Laboratory Improvement Amendments (CLIA) accredited testing facility that provides a variety of immunology and chemistry profiles to clinicians worldwide. With over 30 years’ experience in enzyme-linked immunosorbent assay technology, our dedicated team of experienced scientists and technicians utilize the latest research and technologies. More information is available at www.usbiotek.com
About Pike Street Capital
Seattle-based Pike Street Capital manages a private equity fund focused on growth buyouts in industrial technology in the lower middle market. With over 75+ years of investing and operating experience, Pike Street partners with management teams to build and execute a strategy for future growth. Pike Street Capital was co-founded by Paul Caragher, Dave Dandel and Ed Whatley. More information is available at www.pikestreetcapital.com