New York- and San Francisco-based Behrman Capital has acquired WIL Research Laboratories from Great Lakes Chemical for $105 million (€85 million).
WIL, based in Ashland, Ohio, provides non-clinical toxicological testing and bioanalytical contract services to the pharmaceutical, chemical and biotechnology sectors. The unit was originally purchased by Great Lakes in 1978. According to a press statement, the divestment was based on Great Lakes desire to focus on its core industrial and consumer businesses.
Founded in 1992 by brothers Darryl and Grant Behrman, Behrman Capital focuses on information technology, business services, contract manufacturing and outsourcing. Back in January, the firm acquired Hunter Defense Technologies, a maker of military and homeland defense products, for $90 million. The deal came seven months Behrman Capital bought ILC Industries, a Bohemia, New York, maker of components for the aerospace and defense industries, for $303 million.
In 2001 the firm closed a $1.2 billion fund. In February 2002 Darryl Behrman died unexpectedly of a heart attack.