Canadian private equity firm TerraNova Partners has acquired York Analytical Laboratories Inc, a Stratford, Connecticut-based environmental laboratory operating in the Northeastern United States.
No financial terms were disclosed.
Founded in 1990, York provides analysis of environmental samples, including water, soil, air and drinking water, for regulated contaminants.
The company said the partnership with TerraNova enabled it to expand its lab testing facility in New York and will support additional growth opportunities.
Toronto-based TerraNova invests in growth, turnaround, carve-out and comparable deals in a range of sectors.
York Analytical Laboratories Adds Partner to Accelerate Growth in the New York City Area
York Opens New York City’s First Emerging Contaminants Laboratory
Nyack, NY (October 18, 2018) – York Analytical Laboratories, Inc. (YORK), one of the leading environmental laboratories in the Northeast, has expanded its ownership structure with the addition of TerraNova Partners LP (TerraNova), an international strategic financial group that invests in market-leading businesses in high growth sectors. The new partnership has immediately enabled YORK to expand its lab testing facility in New York City to perform analyses of Emerging Contaminants, such as PFAS and 1,4 Dioxane. This year, emerging contaminants have become a focus of environmental regulators. New York State environmental authorities have already identified 21 different PFAS compounds that must be tested for on a growing list of new development and known problematic environmental sites. YORK is committed to staying at the forefront of this new area of environmental analytical testing, and is the only laboratory of its kind in New York City.
The close proximity of YORK’s New York City laboratory and of its client service staff to large development sites, LaGuardia and JFK airports, and utility providers offers a unique ability for YORK to meet the demanding turnaround times and stringent reporting requirements of its customers. In 2017, YORK was the first full service NELAC laboratory to conduct analyses in New York City with licensing for volatile organic compounds in air (TO-15 analyses), groundwater, drinking water and soil samples.
“The resources and financial expertise that TerraNova brings to YORK allows us to accelerate growth to better meet market demand and expand service offerings to maximize long-standing relationships in greater New York City,” said Michael J. Beckerich, Chief Executive Officer of York Analytical Laboratories. “TerraNova’s interest in building and growing what we have already started was a very attractive approach for our staff and to retain continuity with client projects, and will allow us to continue to delight our customers.”
“YORK has all of the attributes we look for in growing companies. Their reputation and track-record of strong operations in a very difficult region to operate impressed our entire senior team,” said Jesse Gill, Partner at TerraNova and head of their New York City office. “Michael and his team are dynamic and have significant upside and potential to continue YORK’s growth in years to come. We are thrilled to become YORK’s new partner, supporting the company’s growth and its customer-focused programs.”
The deal between YORK and TERRANOVA was brokered by New Haven, CT-based Woodbridge International.
York Analytical Laboratories, Inc. (www.yorklab.com) is a full-service NELAC-accredited analytical laboratory serving environmental professionals, developers and industrial companies in the NY/NJ/CT Tri-state area since 1990. With its flagship laboratory facility in Stratford, CT, YORK has expanded its operations with facilities in Richmond Hill, NY (Queens/NYC), Nyack, NY (Hudson Valley) and Prospect Park, NJ (North/Central NJ).
TerraNova Partners LP (www.terranovapartners.com) is an operationally-focused private equity investment firm which invests in companies with strong growth prospects and excellent people. TerraNova operates out of New York City and Toronto, Canada.
Michael J. Beckerich
Chief Executive Officer
York Analytical Laboratories, Inc.