NEW
YORK, July 31, 2024 /PRNewswire/ -- Firmament, a
provider of structured capital solutions to small and medium-sized
enterprises, announced today an investment in Alchemy Analytical
Group ("AAG" or the "Company"). AAG manufactures and distributes
consumable and reference materials to the laboratory analytical and
life sciences ("ALS") industry. More specifically, AAG targets the
atomic spectroscopy ("ASM") subsegment of the ALS industry.
Firmament's investment supported AAG's acquisition of Spectron, a
manufacturer of complex cones and skimmers used in ASM testing.
![Firmament (PRNewsfoto/The Firmament Group) Firmament (PRNewsfoto/The Firmament Group)](https://mma.prnewswire.com/media/1721651/FIRMAMENT_ID_CENTERED_COLOR.jpg)
The combination of AAG and Spectron solidifies AAG's position as
the market leader in cones and skimmers production and further
augments its diversified ASM consumables offerings, including
sample containers, chemicals and reagents, and certified reference
materials, among others. The combined business provides essential
consumables for ASM testing used to analyze the composition of
materials across a wide range of end markets including commercial
labs, academia, pharmaceuticals, industrials, and advanced
materials.
AAG is led by CEO Greg Molter,
whose father founded AAG's predecessor company in 1978. Mr. Molter
shared his thoughts on the investment: "The AAG team is excited to
partner with Firmament to enhance our offerings with the Spectron
acquisition and continue supplying high-quality consumables to our
customers across the world. Firmament's financial backing will
further catalyze our growth and offer substantial opportunities
across the AAG family."
Green Campbell, Principal at
Firmament stated, "We are excited to partner with AAG as they
embark on their next chapter of growth. The laboratory analytical
and life sciences industry has been a focus area for Firmament, and
we believe AAG is a market leader within the attractive ASM
subsegment that impacts many aspects of our lives from drug
discovery to food quality testing. Greg and his team have built an
impressive business, and the combination with Spectron will further
bolster their market leading position. We look forward to
supporting the entire team as they continue investing for
growth."
About Alchemy Analytical Group
Founded in 2015, AAG
manufactures and distributes consumable and reference materials to
the atomic spectroscopy industry. Headquartered in Michigan, with offices across the US and the
UK, the Company provides customers across the globe with one of the
broadest product suites in the atomic spectroscopy industry.
About Spectron
Founded in 1990, Spectron primarily
manufactures cones and skimmers for inductively coupled plasma mass
spectroscopy instruments, which are utilized in atomic spectroscopy
labs across a variety of end markets. Spectron is based in
Ventura, California.
About Firmament
Firmament (www.firmament.com) provides
control equity, minority equity and growth debt capital to
lower-middle market businesses primarily in three core industry
verticals: Technology, Healthcare and the Environment. Within these
verticals, we make investments in service, software and
specialty-manufacturing companies with significant scaling
potential. We seek to be a value-added partner to entrepreneurs,
management teams, and business owners, and curate solutions by
deploying versatile capital in a user-friendly way. With offices
across the United States,
Firmament is focused on turning small business into big
business.
Media Contact:
Isabella
Schepel
media@firmament.com
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SOURCE Firmament