Point Lookout Capital Partners has acquired Tri-Tech Inc., a Southport, N.C.–based maker of DNA collection kits and customized forensic crime scene investigation products. No financial terms were disclosed, except that FNB Capital Corp. provided leveraged financing.
Point Lookout Capital Partners II, L.P., a Manhattan-based private investment firm, announced today that it is has completed the acquisition of Tri-Tech, Inc. Debt financing was provided by F.N.B. Capital Corporation, a subsidiary of F.N.B. Corporation (NYSE: FNB). Financial terms of the transaction were not disclosed.
Founded in 1983, Tri-Tech, Inc. is a leading designer, manufacturer and marketer of DNA collection kits and customized forensic crime scene investigation products. Tri-Tech’s products are sold to crime laboratories, law enforcement agencies, military agencies, professional sports teams and large corporations throughout the world.
“Tri-Tech has had an outstanding reputation in the forensics market for many years,” said James Cesare, Managing Partner of Point Lookout Capital Partners. “Given the increasing levels of accountability required from the judicial system, crime scene investigation products are becoming more sophisticated and the users are demanding higher quality products” he added. Mr. Cesare concluded, “Tri-Tech has a great workforce and is well positioned to continue its growth in the forensics and crime scene investigation market.”
Tri-Tech will be marketing its products under the “Tri-Tech Forensics” name and the current management of the company will remain in place to assist Point Lookout Capital Partners in executing its growth plan in the forensics and law enforcement markets. For more information, please visit the company’s website at www.tritechusa.com. Point Lookout Capital Partners is a Manhattan-based private investment firm, specializing in control investments in small to middle market companies (www.pointlookoutcapital.com).