Deal Details

Kova Is Acquired by LGC

Healthcare

Kova, a portfolio company of One Rock, sale to LGC, a portfolio company of Astorg and Cinven

Summary

Kova International, Inc. (“Kova”), a portfolio company of One Rock Capital Partners, LLC (“One Rock”), was recently acquired by LGC Group (“LGC”), a portfolio company of Astorg and Cinven. The terms of the transaction have not been disclosed.

Baird served as the financial advisor to Kova on this transaction.

About

Kova, the former urinalysis division of Hycor Biomedical, operating under the KOVA® brand, is a leading developer, manufacturer and marketer of in vitro diagnostic products for the global urinalysis and toxicology markets. Kova provides products to leading healthcare customers in North America and around the world. Kova is headquartered in Garden Grove, California.

One Rock Capital Partners is a value-oriented, operationally focused private equity firm. One Rock makes controlling investments in companies with potential for growth and operational improvement using a rigorous approach that utilizes highly experienced Operating Partners to identify, acquire and enhance businesses in select industries. The involvement of these Operating Partners affords One Rock the ability to conduct due diligence and consummate acquisitions and investments in all types of situations, regardless of complexity. One Rock works collaboratively with company management and its Operating Partners to develop a comprehensive business plan focused on growing the enterprise and its profitability to enhance long-term value. One Rock is headquartered in New York, New York.

LGC Group is a leading global life science tools company, providing mission-critical components and solutions into high-growth application areas across the human healthcare and applied market segments. LGC's tools play a key role in customer workflows from discovery applications through to commercial manufacture and enable its customers to: bring new diagnostics and therapies to market; progress research and development; optimize food production; and continuously monitor and enhance the quality of food, the environment and consumer products. LGC’s 180 years of scientific heritage, combined with a track record of innovation and value-enhancing acquisitions, has enabled LGC to build their product portfolio and expertise, and develop deep relationships with customers, industry partners and the global scientific community. LGC is headquartered in Teddington, United Kingdom.

Healthcare

Kova, a portfolio company of One Rock, sale to LGC, a portfolio company of Astorg and Cinven