“This strategic investment further strengthens our position as a market leader of specialty packaging and related instruments for cell-based research, chemical compound, in vitro diagnostics, and specialty pharmaceutical markets,” said Stephen Drozdow, President and CEO of Wheaton Industries. “We were particularly attracted to LSL's position and growth prospects in the U.K. and throughout Europe.” Drozdow noted LSL will operate as a standalone subsidiary of Wheaton Industries Inc.
Throughout LSL's history, the company has provided scientists and clinicians with high quality glass and plastic consumable products including, dropper pipettes, test tubes, chromatography vials, crimp and screw neck vials. LSL is the premier supplier of glass and plastic packaging to the UK Biotechnology and Diagnostics markets.
Stephen Drozdow added, “Customers can expect the same excellent products and service they have grown accustomed to. LSL's renowned brand will be further complimented and extended by Wheaton's broad product portfolio and global reach.”
The Wheaton transaction team was led by Stephen Drozdow, Danine Freeman (CFO), John Jones (Acquisitions Project Manager), and Robert Dolan from PNC Equity Partners. Gary Houghton and James Wild from Baker Tilly Corporate Finance LLP led the transaction on behalf of Grahame Elmore, the shareholder.
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