Caron Adds Experienced Life Sciences and Lab Products Executive Mark McLoughlin to Board of Directors
05 May, 2021, 08:30 ET
MARIETTA, Ohio, May 5, 2021 /PRNewswire/ -- Caron Products and Services ("Caron"), a leading provider of laboratory equipment used in small and large molecule drug development and manufacturing, cell and gene therapy, and academic research, is pleased to announce the appointment of Mark McLoughlin to its Board of Directors.
McLoughlin brings more than four decades of relevant operating experience in the laboratory products and life sciences sector. Most recently, he was Executive Vice President for Avantor, and he previously served as of SVP & President, Americas Laboratory and Distribution Services for VWR International, which Avantor acquired. During his tenure at as President for VWR International, McLoughlin was responsible for its Americas $3 billion manufacturing, distribution and services business. He was directly involved in multiple strategic acquisitions and led the integration of these businesses into the Americas portfolio.
"I became aware of Caron several years ago when I was in a leadership role at VWR," said McLoughlin. "As I recently have learned more about the company, I have become even more impressed with their differentiated product offering and impressive list of customers in the life sciences sector. In addition, I am thrilled to partner with SFW Capital, Caron's strategic investment partner and a leading investor in the life sciences tools and products sector. SFW's investment thesis – to grow Caron through new product development, add-on acquisitions, and enhanced sales and marketing – aligns with my view of the company's opportunity."
"Mark is an excellent addition to the Caron team," said Steve Keiser, President and CEO of Caron. "We are excited to draw upon his experience and leverage his expertise in the global laboratory products sector as we grow and develop the business."
"We are thrilled to welcome Mark to Caron," added Ahmad Sheikh, Chairman of the Board at Caron, and Partner at SFW Capital Partners. "Mark has an exceptional track record in the laboratory products and life sciences sector, especially his experience at Avantor, where he built a strong business through strategic organic and inorganic growth initiatives."
McLoughlin's appointment follows SFW Capital Partners' strategic recapitalization of Caron in December 2020.
About Caron Products and Services
Founded in 1985 in Marietta, OH, Caron is a leading provider of laboratory equipment used in small and large molecule drug development and manufacturing, cell and gene therapy, and academic research. Caron's products, which include environmental testing chambers, incubators and growth chambers, are used for FDA-required QA/QC stability testing during drug development and manufacturing, incubation in clean-room environments, and growth of samples in academic research. Caron sells its products to a diverse range of customers in the biopharmaceutical, biotechnology, outsourced pharmaceutical services, consumer products, and academic industries, among others. For more information, visit www.caronproducts.com.
About SFW Capital Partners, LP
SFW Capital Partners is a specialized private equity firm that invests in leading Information, Software, Industrial and Healthcare Technology companies. These companies, which include providers of instrumentation, laboratory products, software/information and related solutions, provide a high return on investment to their customers and can serve a wide variety of end-markets. Our principals' 25+ years of investing in and experience with relevant business models, technologies, competitive dynamics and service requirements gives us confidence in our ability to support management teams in growing their companies and building value. For more information, visit www.sfwcap.com.
SOURCE Caron Products and Services Inc.
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