Exited Portfolio Company

SP Industries,Inc.

SP conducts its operations through three primary business segments: (i) research products, (ii) process equipment and (iii) services and support. Research products include freeze dryers, homogenizers, fermenters, vacuum ovens, humidity chambers, incubators, refrigerators and freezers, sterilizers and washers, laboratory glassware and precision bore glass tubing. Process equipment includes freeze dryers and environmental rooms. Services and support include parts and upgrades, installations, validation and calibration, preventative maintenance, block of time services, maintenance audit programs and training programs.

SP’s diverse worldwide customer base includes nearly all of the largest pharmaceutical and biotechnology companies worldwide, as well as leading industrial, academic and governmental organizations. A representative example of the Company’s blue-chip customers include, among others, Abbott Laboratories; Bayer AG; Corning Inc.; Dow Chemical Company (The); DuPont; Eastman Chemical Company; Fisher Scientific International, Inc.; Novartis AG; Pfizer Inc.; Varian, Inc.; VWR International; and Wyeth.

In November 2006, SP acquired FTS Systems, a leading manufacturer of precision thermal control instruments and systems used in a wide range of research and process applications.  Founded in 1970, FTS is well known for its proprietary low temperature thermal engineering technology and compact systems designs, coupled with robust controls development and integration into customer processes. 

In March 2007, SP acquired Genevac Ltd., a leading global manufacturer of high-performance solvent evaporation systems for drug discovery, molecular biology and life science research markets.  Founded in 1990 and headquartered in Ipswich, England, Genevac manufactures a wide range of standard and custom systems from compact bench-top to ultra-high throughput production scale systems.

SP is headquartered in Warminster , Pennsylvania and operates manufacturing facilities in New York, New Jersey, Pennsylvania, and England.  SP also maintains leased glassblowing repair depots in Tennessee and Illinois.  SP was founded in 1982 and employs approximately 500 employees worldwide.