3 Boomerang Capital Announces Strategic Growth Investment in Analytical Biological Services Inc.
Blitzer, Clancy & Company advised ABS, a leading provider of biopharma biomaterial services
GREENWICH, Conn.and WILMINGTON, Del., June 24, 2024 /PRNewswire-PRWeb/ — 3 Boomerang Capital (“3BC” or “3 Boomerang”), a Greenwich, CT based lower middle-market healthcare-focused private equity firm, today announced its investment in Analytical Biological Services Inc. (“ABS”). The growth recapitalization of ABS is the first platform investment in 3 Boomerang Capital Fund I, LP, which closed in early 2024.
Founded in 1990 by CEO, Charles “Charlie” Saller, PhD., ABS has provided many of the world’s leading biopharmaceutical companies with mission critical biomaterial services for more than 30 years. Headquartered in New Castle, Delaware, ABS provides biospecimen procurement and analysis, cell culture services, biostorage, and other research services such as flow cytometry to the biopharma community from its newly built and state-of-the-art 48,000 square foot facility.
“Born from our thematic research process and proprietary sourcing engine, ABS will serve as the platform upon which 3 Boomerang aims to build a global leader in biomaterial services,” shared Logan Stinson, 3BC Founding Vice President. Mr. Stinson further commented, “We are excited to partner with Charlie and the ABS team to execute on our shared vision for growth and innovation in the biomaterials space.”
ABS has nearly fifty employees in the northeastern pharma-corridor and, with the new capital base, will look to expand its capabilities and reach, through both organic growth and add-on acquisitions. John Chickosky, newly appointed Executive Chairman of ABS and member of 3BC’s Strategic and Operational Advisory Board, reinforced that notion by saying, “3 Boomerang’s growth investment will allow ABS to continue its robust growth trajectory as well as add services that further address critical customer needs.” Mr. Chickosky expanded on the importance of ABS’ services as well, “As global R&D supply chains continue to face pressure, there is ever-increasing demand for adaptable, customer-centric providers like ABS. I look forward to our partnership with Charlie and his team to further enhance their already leading biomaterial services offerings.”
“It is a pleasure to partner with 3 Boomerang. 3BC clearly understands the need of the bioresearch community for collaborative client-focused custom research services. Their investment and expertise create significant value that will enable us to better serve our clients. We thank our partners at Blitzer & Co., DLA Piper, and Santora & Co., who helped us to bring this transaction to completion. Most importantly, I thank our staff and clients who have made ABS an extension of their laboratories,” remarked Dr. Charlie Saller, Founder and CEO of ABS.
About ABS
Since 1990, ABS, led by Founder/CEO and serial entrepreneur Dr. Charlie Saller, has made research and discovery faster, easier, and more reliable for nearly every major pharmaceutical and biotech company via its procurement, processing, characterization, and quality control of high-quality cells and tissues. As a leading global provider of custom biological products and services with an emphasis on long term relationships with its clients, ABS supplies biopharmaceutical companies and emerging biotech companies with cell culture services, cell-line engineering, human biospecimens, cell and tissue preparations and analyses, and sample storage and logistics. For more information about the company, visit absbio.com.
About 3 Boomerang Capital
3 Boomerang Capital is a lower middle-market healthcare private equity firm committed to fostering creative investment partnerships with healthcare entrepreneurs across North America and Western Europe. 3BC's areas of investment focus span four key healthcare sectors: BioPharma outsourcing, medical device and diagnostic manufacturing, information technology and tech-enabled services, and alternate site care. The firm specializes in backing founder-led businesses, providing the guidance and resources needed for successful growth and innovation in the healthcare market. By strategically concentrating on four core areas, 3 Boomerang Capital is well-equipped to deliver on its mission of empowering healthcare entrepreneurs and propelling healthcare businesses to new heights. The firm is currently investing out of its flagship fund, 3 Boomerang Capital I, LP, a $376 million investment vehicle. For more information, visit 3boomerang.com.
Media Contact
Alixe Kluttz
3 Boomerang Capital
1 (203) 517-4763
a.kluttz@3boomerang.com
Source: 3 Boomerang Capital
