Severn Trent Laboratories to Be Acquired by H.I.G. Capital Affiliate.Plans Merger with TestAmerica to Create New Environmental Testing Market Leader MIAMI Miami, cities, United States Miami (mīăm`ē, –ə). 1 City (1990 pop. 358,548), seat of Dade co., SE Fla., on Biscayne Bay at the mouth of the Miami River; inc. 1896. -- Severn Trent Severn Trent plc (LSE: SVT) is a British utility. It is traded on the London Stock Exchange and is a constituent of the FTSE 100 Index. Severn Trent is a group of companies employing more than 15,000 people across the UK, US and mainland Europe. Laboratories, Inc. ("STL (STereoLithography) A 3D printing file format created by 3D Systems for its stereolithography system. Also supported by many numerical control, rapid prototyping and rapid manufacturing machines, STL provides the surface geometry of the item in triangles. ") announced today that it is being acquired by an affiliate of H.I.G. Capital ("H.I.G."), a premier private investment firm. STL is a leading environmental testing firm with 31 laboratories throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . STL provides a wide variety of analytical testing services, including dioxin dioxin Aromatic compound, any of a group of contaminants produced in making herbicides (e.g., Agent Orange), disinfectants, and other agents. Their basic chemical structure consists of two benzene rings connected by a pair of oxygen atoms; when substituents on the rings are detection and air analyses; indoor air quality Indoor Air Quality (IAQ) deals with the content of interior air that could affect health and comfort of building occupants. The IAQ may be compromised by microbial contaminants (mold, bacteria), chemicals (such as carbon monoxide, radon), allergens, or any mass or energy stressor , food and consumer products testing; and a range of products used in the testing process. STL is being sold by U.K.-based Severn Trent Plc. H.I.G. currently owns TestAmerica, a leader in the environmental and indoor air quality testing industry. H.I.G. plans to merge TestAmerica with STL to create a new industry leader. STL President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Rachel Brydon Jannetta commented, "We are excited to be partnering with a premier private equity firm who shares our vision for growth. Together, we will continue to provide excellent service to our valued customers across a broader base of laboratories and service centers. In merging with TestAmerica, STL will enter a new and exciting growth phase which will provide long term benefits for all stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. ." Tom Barr, CEO of TestAmerica commented, "This combination is a defining moment for TestAmerica and STL. We look forward to building on our combined strengths to provide the best possible service to our clients, create a positive and rewarding working environment for our employees, and realize the potential of the new company." Both STL and TestAmerica are widely recognized for their quality testing and strong customer service focus. The combined company will have 54 analytical laboratories and dozens of service centers and microlabs strategically located across the United States. The company will provide testing and sampling related products through its QED QED abbr. Latin quod erat demonstrandum (which was to be demonstrated) QED which was to be shown or proved [Latin quod erat demonstrandum] Noun 1. Environmental Systems division, Metco and TestAmerica Drilling. Anthony DiSimone, Managing Director of H.I.G., commented, "We look forward to combining STL and its outstanding management team with TestAmerica as we continue to build the premier environmental testing company in the United States. H.I.G. is committed to growing the environmental testing business, and believes that STL's analytical testing, indoor air quality, and sampling and testing products are highly complementary to TestAmerica's current service offerings. The mission of both TestAmerica and STL is to provide the highest quality environmental testing services and products to our clients. Joining forces provides us with even greater opportunities to fulfill that mission. It is a great outcome for all involved." The transaction is subject to final government approval and is expected to close before the end of calendar 2006. About TestAmerica: TestAmerica is a leading provider of environmental testing, servicing clients through its four divisions. The analytical testing division performs tests in scientific laboratories to detect trace level organic and inorganic inorganic /in·or·gan·ic/ (in?or-gan´ik) 1. having no organs. 2. not of organic origin. in·or·gan·ic n. 1. contaminants in soil, water, waste, and air samples that are shipped from industrial processing and other sites that are being investigated, monitored or remediated for the presence of harmful substances. EMLab, the analytical mold testing division, specializes in the analysis of molds, yeasts, bacteria, and allergens. The air emissions sampling division collects air samples from the emissions of industrial processes that are then processed and tested by the company's fully-equipped, on-site mobile laboratories to determine their compliance with applicable environmental regulations. The drilling division drills wells through complex geologies for the environmental testing, monitoring and remediation of industrial processing sites, government/military facilities, gas stations, and other sites that may potentially contain harmful substances in soil, water, or sludge sludge (sluj) a suspension of solid or semisolid particles in a fluid which itself may or may not be a truly viscous fluid. sludge a suspension of solid or semisolid particles in a fluid. . For more information, visit TestAmerica online at http://www.testamerica.com. About Severn Trent Laboratories (STL): Severn Trent Laboratories, Inc. (STL) is the industry's leading environmental testing company. Operations in the United States include 31 laboratories, 16 Service Centers and QED Environmental Systems, Inc., the leading supplier of groundwater sampling equipment and remediation pumping systems. STL affiliates include the Aerotech P&K team, which brings together the capabilities of Aerotech Laboratories, Inc. and P&K Microbiology microbiology: see biology. microbiology Scientific study of microorganisms, a diverse group of simple life-forms including protozoans, algae, molds, bacteria, and viruses. Services, Inc. STL employs over 2,100 people. For more information, visit STL online http://www.stl-inc.com. About H.I.G. Capital: H.I.G. Capital LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("H.I.G.") is a leading private equity and venture capital investment firm with more than $3 billion of equity capital under management. Based in Miami, and with offices in Atlanta, Boston, and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , H.I.G. specializes in providing capital to small and medium-sized companies with attractive growth potential. H.I.G. invests in management-led buyouts and recapitalizations of profitable and well managed manufacturing or service businesses. H.I.G. also has extensive experience with financial restructurings and operational turnarounds. Since its founding, H.I.G. has completed in excess of 70 transactions. The firm currently manages a portfolio of more than 50 companies with combined revenues in excess of $5 billion. For more information, please refer to the H.I.G. website at http://www.higcapital.com. |
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