Artel, an internationally recognized gold standard for performance management and optimization of liquid handling workflows throughout the life science industry, has announced the execution of its agreement to be acquired by Advanced Instruments, a leading manufacturer of analytical instruments and services for the clinical, biopharmaceutical, food, and beverage sectors.
Founded in 1982 and based near Portland, Maine, Artel is the global leader in low volume liquid delivery measurement and quality assurance. Artel develops and manufactures accurate, precise, and easy-to-use verification and calibration systems, and provides best practices training and certification as well as on-site verification services, and process management software for ensuring NIST-traceable results in life science laboratories. For more than 65 years, Advanced Instruments’ focus on service, quality, and reliability has produced innovative technologies that align with the needs of the markets it serves, helping to improve workflow efficiency, enhance productivity, and ensure best-in-class performance for laboratories worldwide. Both companies are strongly aligned in their mission to help laboratories improve their processes, increase productivity, enhance product quality, and address compliance challenges.
“We are excited about joining the Advanced Instruments team,” said Kirby Pilcher, President of Artel. “Our companies share many similar values and goals including a vision for sustained innovation, a strong connection to the ultimate beneficiaries of our technologies, and a desire to provide solutions that drive efficiency and deliver value to our customers. In addition to strengthening our customer relationships, this partnership will provide new and exciting opportunities for our employees.”
“The addition of Artel aligns with our core strategy to develop and commercialize leading technologies that deliver significant customer value across the clinical, biopharma, and food and beverage markets,” commented Byron Selman, President & CEO of Advanced Instruments. “With the strong brand names of Advanced Instruments and Artel, along with our core technologies and services, we will deliver an even more powerful portfolio in support of the sectors we serve.”
“We look forward to Artel joining the Advanced Instruments and Patricia Industries family and continuing on the next phase of growth together,” said Yuriy Prilutskiy, Head of Patricia Industries North America, a part of Investor AB, and owner of Advanced Instruments. “Patricia Industries is committed to supporting the combined Advanced Instruments and Artel teams in their mission to deliver important solutions that help laboratories streamline their processes, improve productivity and ensure compliance which in turn will help improve patient care delivery and biopharmaceuticals development globally. This transaction leverages Patricia Industries’ healthcare and life sciences expertise and aligns with our purpose of creating value for people and society by building strong and sustainable businesses.”
The completion of the acquisition is subject to regulatory approval and the satisfaction of other customary closing conditions.
Artel was represented by J.P. Morgan Securities LLC (exclusive financial advisor) and Cravath, Swaine & Moore LLP, and Brann & Isaacson (legal advisors).
Advanced Instruments was represented by Simpson Thacher & Bartlett LLP (legal advisor).