PRESS RELEASE
Detector Technology, Inc. Secures Growth Equity Investment from Ampersand Capital Partners
DeTech is positioned for future acquisitions, product development and increased growth capacity
January 4, 2018 – Detector Technology, Inc., (“DeTech”) a leader in analytical instrument contract design and manufacturing, with a focus on mass spectrometry products, today announced an equity investment by Ampersand Capital Partners (“Ampersand”), a private equity firm with a focus on growth equity investments in healthcare. Ampersand’s capital and decades of sector expertise will be utilized for consolidation of the lab instrument contract manufacturing industry as DeTech expands to meet the needs of an increasingly global customer base.
The global instrumentation market is expected to grow 5-6% per annum for the next five years, with certain clinical and pharmaceutical R&D technology segments growing 8-12%. DeTech’s growing presence in fluidic handling and lab automation has positioned it as a preferred strategic development and manufacturing partner for many leading industry OEMs. The company’s vertically-integrated design-production model allows for reduced time to market, critical process control and best-in-class costing.
“DeTech has a long-standing history in the analytical industry supplying key components and services to our customers,” said Jay Ray, President and CEO of DeTech. “Ampersand recognizes the importance of prioritizing the customer's technology and support needs. This investment further enables us to develop new products, enhance our global customer service and acquire complimentary product lines and global design and production centers closer to our customer-partners.”
“DeTech has a proven track record of success for its life science instrument customers utilizing concept-to-production integration,” said Geoff Teillon, Partner at Ampersand. “Our investment in DeTech emphasizes Ampersand’s focus on fueling innovation by partnering with companies exhibiting relentless passion to consistently exceed customer expectations."
Financial terms of the investment were not disclosed.
The global instrumentation market is expected to grow 5-6% per annum for the next five years, with certain clinical and pharmaceutical R&D technology segments growing 8-12%. DeTech’s growing presence in fluidic handling and lab automation has positioned it as a preferred strategic development and manufacturing partner for many leading industry OEMs. The company’s vertically-integrated design-production model allows for reduced time to market, critical process control and best-in-class costing.
“DeTech has a long-standing history in the analytical industry supplying key components and services to our customers,” said Jay Ray, President and CEO of DeTech. “Ampersand recognizes the importance of prioritizing the customer's technology and support needs. This investment further enables us to develop new products, enhance our global customer service and acquire complimentary product lines and global design and production centers closer to our customer-partners.”
“DeTech has a proven track record of success for its life science instrument customers utilizing concept-to-production integration,” said Geoff Teillon, Partner at Ampersand. “Our investment in DeTech emphasizes Ampersand’s focus on fueling innovation by partnering with companies exhibiting relentless passion to consistently exceed customer expectations."
Financial terms of the investment were not disclosed.