Accutest Laboratories Announces the Acquisition of Evergreen Analytical Laboratory
DAYTON, N.J.-(Business Wire)-January 5, 2009 - Accutest Corporation, the third largest operator of environmental testing laboratories in the United States, has announced the acquisition of Evergreen Analytical Laboratory of Denver, Colorado. Evergreen is a full service environmental testing laboratory, and is the largest provider of superior lab services to municipal, industrial and engineering clients in the Colorado and Mountain States Region.
Accutest President and CEO Vincent J. Pugliese commented on the acquisition: “We are very pleased to announce that Evergreen Analytical will become our platform for expansion and strategic growth in the Rocky Mountain Region. Evergreen already has a superior reputation and a dominant market position in Colorado, and together we plan to build a stronger and more diverse presence in this key market area.”
“After building up our business over the past twenty years, we are now excited to join the Accutest family,” said Jack Barney, President and principal owner of Evergreen. “Accutest’s financial resources, operating systems, and strong reputation will help Evergreen continue to grow. We think Accutest is positioned to become the true leader in the environmental testing industry.” The Evergreen management team will remain with Accutest.
CEO Pugliese added, “Following our financial partnering with Bolder Capital, we continue to implement our strategy of building Accutest into a leading national company, with facilities in all the key market regions of the country. We have good market coverage in the eastern half of the U.S., and our growth strategy is to build greater presence in the western half of the country. Our acquisitions in 2008 represent strong steps towards Accutest’s expansion goals.”
The terms of the transaction were not publicly disclosed. Steve Maxwell of TechKNOWLEDGEy Strategic Group, Boulder, Colorado initiated this transaction and served as advisor to Accutest.
About Accutest
Accutest is a rapidly growing, environmental testing provider focused on quality, customer service and superior electronic data deliverables. Accutest is a full service, independent testing laboratory successfully delivering legally defensible data for more than 50 years. Accutest provides a full range of water, soil and air testing services to industrial, engineering/consulting and government clients throughout the United States. Resources include a staff of 400 and more than 150,000 square feet of laboratory space. Accutest partnered with Bolder Capital, LLC in May of 2007.
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