Cressey & Company Announces the Sale of StatLab to Audax Private Equity and Linden Capital Partners
CHICAGO and NASHVILLE, January 12, 2021 – Cressey & Company LP (“Cressey”), a healthcare-focused private investment firm, announced today that StatLab Medical Products (“StatLab”), a Cressey investment partnership since 2017, has been acquired by Audax Private Equity (“Audax”) and Linden Capital Partners (“Linden”). StatLab is a leading manufacturer and distributor of consumables, reagents, and equipment used by anatomic pathology, molecular diagnostics, and other laboratories.
“Throughout StatLab’s partnership with Cressey, we have developed a broad portfolio of 3,200+ products that have allowed the company to become a leading independent supplier of mission critical products to laboratories nationwide,” said Dan Eckert, Chief Executive Officer of StatLab. “We are proud of the high quality organization we have built, and are thankful for the valuable support and counsel we received from our partners at Cressey.”
During the past three years, StatLab has more the doubled revenue and more than tripled EBITDA, while delivering high quality products and offering high-touch services to its longstanding customers.
Added Cressey Partner Dave Rogero, “With this partnership, Cressey’s goal was to help StatLab become a clear, national partner of choice for laboratory products. The StatLab leadership team has achieved that goal, building an outstanding organization that fulfills a vital role for its customers every day.”
Robert W. Baird & Co. served as financial advisor and Ropes & Gray LLP provided legal counsel to StatLab.
About StatLab Medical Products
Founded in 1976, StatLab Medical Products (“StatLab”) is a leading manufacturer, marketer, and developer of branded consumables and equipment used by anatomic pathology, molecular diagnostics and other laboratories to diagnose cancer and infectious diseases. StatLab partners with laboratories nationwide to provide easy access to over 3,200 high-quality diagnostic products and equipment at excellent prices, delivered with expert support. For more information, visit www.StatLab.com.
About Cressey & Company LP
Based in Chicago, IL and Nashville, TN, Cressey & Company LP is a private investment firm focused on building leading healthcare provider, service and information technology businesses. With a history spanning more than 35 years, the Cressey & Company team is one of the most experienced and successful in the healthcare private equity field. For more information, visit www.cresseyco.com.