WELLESLEY and CHELMSFORD, Mass.--(BUSINESS WIRE)--May 21, 2004--Ampersand Ventures announced today that it has acquired privately owned ESA, Inc., a global supplier of analytical instruments and kits for the biomedical research, drug discovery and clinical diagnostic markets. With headquarters in Chelmsford, Massachusetts, ESA recorded revenues of $17 million in 2003, and has generated consistent growth and profitability over the last several years.
Walter DiGiusto, who has served as ESA's president since 1997, will continue to head the company and serve on the Board of Directors. "We are very excited about working with Ampersand to build on our past success and significantly expand our market presence," commented Mr. DiGiusto. "Ampersand has a strong understanding of our products and markets, and is an ideal equity partner for ESA as we embark on the next phase of the company's development."
"ESA has a strong core business, a dedicated management team and employee base, and a broad array of proprietary technologies in the areas of chemical and biological analysis," explained Herbert Hooper, PhD, a General Partner at Ampersand Ventures who has joined ESA's Board. "This investment provides us with a solid platform for building a leading life science tools company through a combination of internal growth and acquisitions."
In addition to Mr. DiGiusto and Dr. Hooper, ESA's Board will include Peter Parker, a General Partner at Ampersand, who added, "Based on our prior experience in the life science tools industry, we recognized ESA as a well-regarded leader in its core markets, with the potential to expand into several new market segments. We look forward to working closely with the management team to capitalize on the numerous growth opportunities facing the company."
Ampersand was joined in this investment by the Boston Community Venture Fund.
About ESA, Inc.
ESA provides innovative analytical instruments and kits that are used in drug discovery, biomedical research, and clinical diagnostics. ESA's products incorporate advanced technologies in the areas of high sensitivity detection, chemical sensing, and the analysis of complex biological fluids. For more information, visit www.esainc.com.
About Ampersand Ventures
Founded in 1988, Ampersand is a leading private equity investment firm with offices in Wellesley, MA and San Diego, CA. Ampersand currently manages $550 million in committed capital with investments targeted in the life sciences, information technology, and specialty materials and chemicals sectors. For more information, visit www.ampersandventures.com.
Media contacts:
Walter DiGiusto
ESA, Inc.
22 Alpha Road
Chelmsford, MA 01824-4171
(978) 250-7120
wdigiusto@esainc.com
Herbert H. Hooper, Ph.D., General Partner
Ampersand Ventures
Suite 240, 55 William Street
Wellesley, MA 02481-4003
(781) 239-0700
hhh@ampersandventures.com
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Contact:
ESA, Inc.
Walter DiGiusto, 978-250-7120
wdigiusto@esainc.com
or
Ampersand Ventures
Herbert H. Hooper, 781-239-0700
hhh@ampersandventures.com
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Source: ESA, Inc.
