Branford Castle-Backed Lafayette Instrument Acquires Alzet Osmotic Pumps

Significantly Expands Life Sciences Research Capability

NEW YORK and BOCA RATON, Fla., Nov. 25, 2024 /PRNewswire/ -- Lafayette Instrument, LLC, a leading global manufacturer of scientific instrumentation equipment for the life sciences, polygraph and human evaluation markets, today announced that it has acquired Alzet Osmotic Pumps from DURECT Corporation. Lafayette is a portfolio company of North American-focused private equity firm Branford Castle Partners.

Alzet marks the fourth bolt-on investment for Lafayette, which was acquired by Branford Castle in 2021. Alzet represents just one of five transactions that Branford Castle has completed in recent months. During the summer, Branford Castle announced the successful exits of its investments in Clean Solutions Group and Earthlite Massage Tables, and in the last few weeks announced the acquisitions of Hoffman Engineering and Testek Solutions.

With the acquisition of Alzet, Lafayette reinforces its commitment to provide unparalleled support to the life science research community through experiment-focused software and instrumentation. Alzet is a leading provider of infusion pumps and related accessories used by universities and research institutions globally for accurate and continuous dosing in preclinical research.

Ceon Francis, Managing Director at Branford Castle, stated, "This acquisition provides Lafayette with the opportunity to increase its product offering to existing and new life sciences customers. We are excited to work with the Lafayette management team to continue to support the future growth of the company."

Benjamin Mangrich, CEO of Lafayette Instrument, said, "Alzet osmotic pumps are a great addition to our life science instruments. We look forward to continuing a shared legacy of premier products that support life-changing research."

Branford Castle was advised by its legal counsel, Akerman LLP, and RSM served as its accounting/tax advisor. Aquilo Partners, L.P. acted as financial advisor and Wilson, Sonsini, Goodrich & Rosati acted as legal advisor to DURECT. Byline Bank is providing senior debt financing and Brookside Capital Partners is providing mezzanine debt financing for the transaction.

ABOUT BRANFORD CASTLE PARTNERS
Branford Castle is a private market investor focused on lower middle-market investments, with more than 35 years of helping to grow businesses. The Firm typically makes control investments in companies with up to $15 million of EBITDA and a leadership position in a niche industry. Branford Castle prides itself on the strong relationships it develops with its portfolio company managers. Branford Castle has particular expertise in industrials/specialty manufacturing, consumer products, business services and logistics.

ABOUT LAFAYETTE INSTRUMENT
Lafayette Instrument Company has over 75 years of experience engineering and manufacturing high-quality scientific instrumentation and data acquisition equipment for disciplines such as biology, neuroscience, pharmaceutical and medical research, physical therapy and rehabilitation, security, and law enforcement. Lafayette is positioned at the forefront of neuroscientific discovery, human evaluation, and credibility assessment. Lafayette Instrument is a portfolio company of Branford Castle Partners II, L.P. ("Branford Castle"), a New York City-based private equity firm.

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SOURCE Branford Castle Partners