Evanston, Ill., February 12, 2020 – Industrial Opportunity Partners (“IOP”), an operations-focused private equity firm based in Evanston, Ill., today announced that its existing portfolio company SRR Holdings, Inc., dba Royston Group (“Royston Group”) has acquired Hamilton Laboratory Solutions (“Hamilton” or the “Company”). Hamilton will operate as a division of the Royston Group. Terms of the transaction were not disclosed.
Hamilton has a storied, 140-year history as a laboratory equipment designer and manufacturer, with a comprehensive line of adaptable workstations, caseworks, fume hoods, and accessories that are specified into laboratory designs. Hamilton CEO Steve Pribek, who led the acquisition of certain assets and intellectual property of Hamilton in 2015, will join Royston Group as Senior Vice President of Hamilton.
Mr. Pribek commented, “We are excited to begin the next chapter of Hamilton as part of the Royston Group, which is known for its operational excellence and manufacturing expertise, and bringing those capabilities to bear in the laboratory industry to the benefit of our customers.”
Royston Group President and CEO Frank Callis welcomed Hamilton, stating, “The acquisition of Hamilton represents an exciting entry point for Royston into the heath care and industrial laboratory end markets. We are pleased to add Hamilton to our portfolio of brands and look forward to working with the Hamilton team to fuel future growth, expand manufacturing capabilities, and achieve best-in-class service for the laboratory industry.”
Royston Group also owns Royston LLC and SignResource, LLC. Royston LLC, acquired by IOP in March 2018, is a designer, manufacturer, and installer of custom check-out and merchandising fixtures and equipment for convenience store, grocery, and mass merchandise chains across North America. SignResource, LLC, acquired by IOP in July 2018, designs, manufactures, and installs exterior and interior signage and brand identification solutions for customers throughout North America in the petroleum/convenience store, retail, and quick serve restaurant markets.
About Hamilton Laboratory Systems
Hamilton is a designer and manufacturer of laboratory furniture and fume hoods for the education, health care, and industrial laboratory markets. Hamilton offers consistently high-quality products to meet customer delivery requirements. Hamilton’s manufacturing operations are headquartered in Manitowoc, Wis. with an additional manufacturing facility in Shanghai, China. For more information, please visit www.hamiltonlab.com.
About Royston Group
Formed in 2018, Royston Group brings together two North American pacesetters in retail equipment and branding – Royston LLC and SignResource, LLC – to provide customers unparalleled solutions for their interior and exterior store environments. Headquartered in Jasper, Ga., Royston Group has manufacturing plants in Jasper, Ga., Royston, Ga., Atlanta, Ga., Maywood, Calif., distribution warehouses in Pendergrass, Ga. and Bell Gardens, Calif., and a project management team based in Knoxville, Ky. For more information, visit Royston Group’s websites at www.roystonllc.com and signresource.com.
About Industrial Opportunity Partners
IOP, an Evanston, Ill.-based private equity firm with $910 million of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with revenue between $30 million and $400 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses. For more information, visit IOP’s website at www.iopfund.com.