Audax Private Equity and Linden Capital Partners Agree to Sell StatLab Medical Products to Leica Biosystems
Linden Capital Partners (“Linden”) and Audax Private Equity (“Audax”), two leading middle-market private equity firms, announced today an agreement to sell StatLab Medical Products (“StatLab” or the “Company”) to Leica Biosystems, an operating company of Danaher Corporation (NYSE: DHR). The transaction is subject to customary closing conditions. Founded in 1976 and headquartered in McKinney, Texas, StatLab is a leading manufacturer of pre-analytical products spanning the full anatomic pathology workflow, delivering high-quality products and expert service to laboratories and OEM customers across the United States and Europe.
During the ownership of Audax and Linden, StatLab expanded from a primarily U.S.-focused business into a global, integrated manufacturer. Through investments in the team, commercial function, and manufacturing facilities, StatLab reinforced its relationships with customers to accelerate organic growth. The Company also enhanced its in-house production capabilities and completed nine strategic acquisitions that broadened its self-manufacturing capabilities.
Joe Bernardo, Chairman of StatLab and Linden Operating Partner, commented: “When we partnered with StatLab in 2021, we saw a company with a strong reputation for quality and service and an opportunity to build a scaled, self-manufacturing platform spanning the anatomic pathology workflow. It has been a privilege to work alongside this team as they executed that vision. StatLab today is a stronger, more global, and more innovative company, and I am confident it will continue to thrive as part of Leica Biosystems and Danaher.”