Alaris exits Labstat with company's sale to Warburg Pincus
Canadian alternative equity firm Alaris Royalty Corp has wrapped up its repurchase of units in Labstat International ULC, a Kitchener, Ontario-based analytical laboratory specializing in testing of nicotine-containing products. The repurchase and repayment of debt owed to Alaris by the company resulted from Labstat's sale this week to U.S. private equity firm Warburg Pincus. No financial terms were released. Alaris, which originally invested in 2012, said it received proceeds of $69.5 million with the exit, a total return on its Labstat units of about $57 million, and an internal rate of return of about 19 percent. Founded in 1976 by Executive Chairman William Rickert, Labstat was before 2012 backed by Huron Capital.
27 June 2018•3 mins read
