NEW YORK, July 31, 2024 -- Firmament, a provider of structured capital solutions to small and medium-sized enterprises, announced today an investment in Alchemy Analytical Group ("AAG" or the "Company"). AAG manufactures and distributes consumable and reference materials to the laboratory analytical and life sciences ("ALS") industry. More specifically, AAG targets the atomic spectroscopy ("ASM") subsegment of the ALS industry. Firmament's investment supported AAG's acquisition of Spectron, a manufacturer of complex cones and skimmers used in ASM testing.
The combination of AAG and Spectron solidifies AAG's position as the market leader in cones and skimmers production and further augments its diversified ASM consumables offerings, including sample containers, chemicals and reagents, and certified reference materials, among others. The combined business provides essential consumables for ASM testing used to analyze the composition of materials across a wide range of end markets including commercial labs, academia, pharmaceuticals, industrials, and advanced materials.
AAG is led by CEO Greg Molter, whose father founded AAG's predecessor company in 1978. Mr. Molter shared his thoughts on the investment: "The AAG team is excited to partner with Firmament to enhance our offerings with the Spectron acquisition and continue supplying high-quality consumables to our customers across the world. Firmament's financial backing will further catalyze our growth and offer substantial opportunities across the AAG family."
Green Campbell, Principal at Firmament stated, "We are excited to partner with AAG as they embark on their next chapter of growth. The laboratory analytical and life sciences industry has been a focus area for Firmament, and we believe AAG is a market leader within the attractive ASM subsegment that impacts many aspects of our lives from drug discovery to food quality testing. Greg and his team have built an impressive business, and the combination with Spectron will further bolster their market leading position. We look forward to supporting the entire team as they continue investing for growth."
About Alchemy Analytical Group
Founded in 2015, AAG manufactures and distributes consumable and reference materials to the atomic spectroscopy industry. Headquartered in Michigan, with offices across the US and the UK, the Company provides customers across the globe with one of the broadest product suites in the atomic spectroscopy industry.
About Spectron
Founded in 1990, Spectron primarily manufactures cones and skimmers for inductively coupled plasma mass spectroscopy instruments, which are utilized in atomic spectroscopy labs across a variety of end markets. Spectron is based in Ventura, California.
About Firmament
Firmament (www.firmament.com) provides control equity, minority equity and growth debt capital to lower-middle market businesses primarily in three core industry verticals: Technology, Healthcare and the Environment. Within these verticals, we make investments in service, software and specialty-manufacturing companies with significant scaling potential. We seek to be a value-added partner to entrepreneurs, management teams, and business owners, and curate solutions by deploying versatile capital in a user-friendly way. With offices across the United States, Firmament is focused on turning small business into big business.
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