Progress Equity Partners recaps lab casework manufacturer Hanson Lab Solutions

• Hanson Labs was founded in 1977
• Progress Equity targets lower middle market companies
• NewSpring manages over $3 billion across five distinct strategies, from growth equity and control buyouts to mezzanine debt

Progress Equity Partners has recapitalized Camarillo, California-based Hanson Lab Solutions, a lab casework manufacturer and interiors supplier. The transaction was done in partnership with NewSpring, First Capital Partners, and Enterprise Bank & Trust.

“Joe and the rest of the Hanson Labs leadership team have done a tremendous job growing the company thus far and have identified a clear pathway for continued expansion,” said David McLeese, managing partner at First Capital Partners, in a statement. “We’re thrilled to work with this team to continue offering industry-leading services to a wide range of researchers pursuing exciting scientific breakthroughs.”

Hanson Labs was founded in 1977.

Progress Equity targets lower middle market companies.

NewSpring manages over $3 billion across five distinct strategies, from growth equity and control buyouts to mezzanine debt.

Founded in 2006, FCP provides mezzanine debt and equity to companies with revenues of $10 million to $100 million and EBITDA of $2 million to $10 million.