May 16, 2022
Aterian Investment Partners Announces Acquisition of Allentown
NEW YORK, NY and MIAMI, FL (May 11, 2022) — Aterian Investment Partners (“Aterian”), a private investment firm, is pleased to announce its acquisition of a majority interest in Allentown, LLC (“Allentown”, or the “Company”). Allentown is the first investment from Aterian’s Fund IV, an approximately $830 million investment vehicle.
Founded in 1968 by the Coiro family and based out of Allentown, NJ, Allentown is a leading provider of lab solutions serving the biomedical pre-clinical research and broader life sciences industries. Allentown provides mission-critical equipment systems and other lab solutions which are essential to the biomedical research industry. Allentown’s products enable the efficient development of pharmaceuticals and therapeutics, with end-to-end dedicated engineering and design teams that work with customers to design and supply systems that fit the customer’s individual needs. With a track record spanning 50-plus years, Allentown has become a leading global player and today provides thousands of customers with a complex set of equipment systems and components. Core customers include many leading academic research institutions, biopharmaceutical companies and private research organizations.
John Coiro, Chief Executive Officer of Allentown, stated, “We could not be more excited to embark on this new partnership with Aterian as we march into Allentown’s next phase of growth. Throughout this process, the Aterian team consistently demonstrated excitement about our business and strategic growth initiatives, commitment to maintaining our company culture established over decades, and relevant experience in partnering with businesses in our space as well as family-oriented businesses. We are confident that Aterian is the perfect partner to help us execute on our global growth plan both organically and through M&A going forward.”
Brandon Bethea, Co-Founder & Partner at Aterian, commented, “We are thrilled to partner with John and the talented Allentown team to continue developing an already global leader in the biomedical research and life sciences equipment space. Over its history, Allentown has demonstrated impressive product innovation, customer service and quality. We believe our investment in Allentown fits nicely within Aterian’s emphasis on industries with considerable white space and we look forward to assisting Allentown in becoming the industry consolidation partner of choice for other like-minded founders and owners.”
Daniel Phan, Managing Director at Aterian, added, “The Allentown platform represents another Aterian platform in the broader healthcare manufacturing space, as well as one with family / founder origins. We are excited to partner with John and the broader Allentown team to help them execute on their growth plan that includes a plethora of actionable organic and M&A levers as we continue to expand this platform within the life sciences market.”
Weil, Gotshal & Manges LLP, PricewaterhouseCoopers LLP, Configure Partners LLC and Kroll LLC advised Aterian.
About Aterian Investment Partners
Aterian Investment Partners manages approximately $1.5 billion of committed capital and invests in industry-leading, middle market businesses. In collaboration with management, Aterian supports investments throughout an organization, from people to processes, equipment, technology, and social governance, among other areas.
For more information, please visit http://www.aterianpartners.com
About Allentown
Allentown was family-founded in 1968 by the Coiro family with its origins in manufacturing animal housing solutions for the local concentrated Northeast academic research institutions. Today, Allentown has expanded to become a one-stop shop for equipment and solutions to the pre-clinical biomedical research and broader life sciences sectors, with a focus on vivarium solutions. Allentown now has a global reach and serves customers ranging from academic research institutions, pharmaceutical and biotechnology companies, private laboratories, governmental research institutions, contract research organizations and everywhere in between.
For more information, please visit https://www.allentowninc.com