SeraCare Life Sciences Acquires KPL
Expands Product Offering for Diagnostics Research
Milford, MA (August 19, 2013) – SeraCare Life Sciences, a leader in life science products for the diagnostic industry, has acquired Kirkegaard & Perry Laboratories (KPL). KPL is a leading provider of antibodies and related reagents for the diagnostic and life sciences markets. With the acquisition, SeraCare has expanded its portfolio of products designed to help diagnostic researchers develop innovative in vitro diagnostic assays through both off-the-shelf products and custom antibody design.
“The diagnostics industry requires high quality materials for use in assay design, development of components for regulated kits, and validation of these products as they move from the laboratory to the clinic,” said Charles Mamrak, CEO of SeraCare. “SeraCare strives to facilitate its customers’ product development efforts, allowing researchers to focus on the science, specifically the design and launch of cutting-edge new assays. The addition of KPL will enable SeraCare to more fully meet the needs of these diagnostic researchers, fueling their innovation by providing reliable and qualified materials for use in these assays.”
By acquiring KPL, SeraCare has built upon its leading position as a life science consumables provider for diagnostic research. KPL’s portfolio of products includes high quality immunochemicals for in vitro diagnostics, including primary and secondary antibodies as well as reagents and kits targeting ELISA, western blotting, immunohistology, protein labeling, nucleic acid labeling, sample preparation, protein purification, and recombinant protein detection and analysis. These products will support SeraCare’s expansion from its core strength of providing biological products and control materials for infectious disease, women’s health, and genetic testing into oncology, autoimmune, allergy and companion diagnostics.
“SeraCare is an ideal fit for KPL, bringing two product offerings together under one company, and positioning us well to reach a broader audience within the diagnostic market,” said Albert Perry, President and CEO of KPL. “Our product portfolios, research and development, and manufacturing expertise are complementary and will enable us to deliver a full suite of capabilities to the diagnostics market.”
SeraCare secured funding for the acquisition and refinanced its existing debt with Madison Capital Funding and BB&T Capital Partners. This new financing relationship strengthens SeraCare’s capital base for future growth both organically and through additional acquisitions. Kirkland & Ellis LLP provided legal advice to SeraCare for the transaction.