NEW YORK and CAMARILLO, Calif., July 20, 2016 /PRNewswire/ -- Warburg Pincus, a global private equity firm focused on growth investing, today announced it has entered into a definitive agreement whereby one of its affiliates will invest in Hygiena LLC ("Hygiena" or "the Company"), a leader in rapid-results environmental testing. Terms of the transaction were not disclosed.
Hygiena is a leading microbiology and life sciences company that serves industrial food processors, healthcare institutions, life science researchers and the general public in more than 50 countries. The Company manufactures and sells a broad range of rapid hygiene monitoring systems, environmental collection systems and rapid dilution services. Hygiena was founded in 2001 by Fred and Susan Nason and has grown to become a market-leading provider of innovative technologies for rapid testing, including ATP (adenosine triphosphate) testing.
Steve Nason, Chief Executive Officer of Hygiena, commented, "We are proud of what we have accomplished at Hygiena and we believe that Warburg Pincus will be the ideal partner to support us in our next chapter. The firm shares our vision to be the leader in technology, innovation and customer service in rapid testing and environmental sanitation, and Warburg Pincus has an excellent track record in helping companies grow into durable businesses of scale."
"The Hygiena management team has built an excellent business, with simple and convenient solutions that address critical needs in food and life sciences end markets. We look forward to working with Steve and investing in the organization and its employees to build on Hygiena's history of success to enhance and expand their offerings in these dynamic and growing markets," said Stephanie Geveda, Managing Director, Warburg Pincus.
"Under Steve's leadership, Hygiena is an exciting starting point to build a market-leading business in the food and life sciences testing and environmental sanitation industry," said Jim Neary, Managing Director and Co-Head of Industrial and Business Services, Warburg Pincus.
Houlihan Lokey served as financial advisors, and Greenberg Trauig LLP provided legal counsel to Hygiena. Antares Capital, Ares Management, and Varagon Capital will provide debt financing for the transaction. Cleary Gottlieb Steen & Hamilton LLP and Epstein Becker & Green P.C. provided legal counsel to Warburg Pincus.
Hygiena LLC (www.hygiena.com) is a microbiology and life science company that serves industrial food processors, healthcare institutions, life science researchers and the general public. The Company manufactures and sells a broad range of rapid hygiene monitoring systems, environmental collection systems and rapid dilution devices. Its products are distributed in over 50 countries worldwide. All products are made under strict GMP standards in its ISO-certified facility, ensuring excellent product quality and reliability. Hygiena is committed to the mission of providing customers with innovative technologies that are simple, easy to use and reliable, with excellent customer service and support. Hygiena is headquartered in the United States in Camarillo, California with a satellite office in the United Kingdom. With over 100 distributors worldwide, Hygiena products span the globe.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $40 billion in private equity assets under management. The firm's active portfolio of more than 120 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 15 private equity funds, which have invested more than $55 billion in over 750 companies in more than 35 countries.
The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information please visit www.warburgpincus.com.
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SOURCE Warburg Pincus