Laboratory Corporation of America (LabCorp®) announced its acquisition of the Bioanalytical Division of Enthalpy Analytical, Inc, on June 11, 2010.
The acquired bioanalytical division of Enthalpy Analytical will become the newest laboratory site for Tandem Labs and will operate under the Tandem Labs’ name. The chemical measurement division of Enthalpy Analytical, Inc., which provides air quality analysis services, will retain its existing name and will remain a private entity.
Crosstree Capital Partners served as exclusive financial advisor to Enthalpy Analytical. Crosstree took steps to strategically position each division appropriately depending upon fit with the prospective buyer. During a global recession that hit the pharmaceutical services sector particularly hard, Crosstree could structure an attractive all-cash deal for the owners of Enthalpy.