Portfolio News

Arsenal Completes Sale of BioIVT to Linden

October 5, 2021

NEW YORK -- Arsenal Capital Partners ("Arsenal"), a private equity firm that specializes in investments in healthcare and industrial companies, today announced that it has completed a majority recapitalization of BioIVT, Inc. ("BioIVT") with Linden Capital Partners ("Linden"), a Chicago-based healthcare private equity firm. The terms of the transaction were not disclosed.

Headquartered in Westbury, New York, BioIVT is the market leader in providing of mission-critical biological specimens and value-added services for the academic research, pharmaceutical, and diagnostics discovery and development markets.

Gene Gorbach, an Investment Partner of Arsenal, said, "We are proud to have partnered with the talented team at BioIVT in building an enterprise that supports tens of thousands of scientists worldwide. BioIVT's products and services enable scientists to more accurately determine efficacy and safety of new therapies and, in doing so, minimize the risk and optimize the effectiveness of subsequent research. We are pleased to maintain our support of this important mission as continuing investors in the company."

"We are delighted to have worked with the talented management team and employees of BioIVT in executing an ambitious growth strategy to build a market-leading company," said Dave Spaight, an Operating Partner of Arsenal who served as Executive Chairman of BioIVT for the last five years. "BioIVT is uniquely positioned to facilitate the safe and effective progress of research to bring therapeutics and diagnostics to all of us whose health and wellbeing are supported by advances in science and clinical care."

Jeff Gatz, CEO of BioIVT, stated, "We are grateful to Arsenal for its strategic and operational support in helping us substantially broaden our capabilities in delivering on our mission of Elevating Science. We are excited about our new partnership with Linden and delighted to have Arsenal continue its involvement with BioIVT."

Jefferies LLC and Perella Weinberg Partners served as financial advisors to BioIVT. Kirkland and Ellis LLP served as legal advisors to BioIVT.

About BioIVT

BioIVT is a market-leading provider of mission-critical biological specimens for the pharmaceutical and diagnostic discovery and development market. The company specializes in control and disease state samples, including tissues, immune cell products, blood, and other biofluids. BioIVT's portfolio of clinical specimens directly supports precision medicine research and the effort to improve patient outcomes by coupling comprehensive clinical data with donor samples. For more information, please visit www.bioivt.com.

About Arsenal Capital Partners

Arsenal is a leading private equity firm that specializes in investments in middle-market industrials and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of $5.3 billion, completed more than 200 platform and add-on investments and achieved more than 30 realizations. The firm works with management teams to build strategically important companies that make a positive impact on the healthcare industry. For more information, please visit www.arsenalcapital.com.