POLARIS Laboratories Secures Investment to Fuel Future Growth

POLARIS Laboratories Welcomes Strategic Investment for Growth

POLARIS Laboratories, a prominent leader in fluid analysis testing and reliability services, has announced a pivotal investment from Riverspan Partners, a private equity firm based in Chicago. This partnership aims to bolster POLARIS's capacity to deliver innovative solutions and enhance its position as a global leader in maintenance and reliability condition monitoring.

Expanding Opportunities in Fluid Analysis

Founded in 1999, POLARIS has established itself at the forefront of predictive testing, specializing in the analysis of oils, fuels, coolants, and greases. Their laboratory services assist clients in enhancing equipment reliability while proactively preventing costly failures. Utilizing advanced laboratory testing methods paired with AI-driven software, POLARIS is committed to minimizing the downtime of critical equipment

Global Laboratories and Cutting-Edge Technology

With a network of seven laboratories worldwide, POLARIS distinguishes itself by offering unparalleled analytical accuracy alongside rapid turnaround times. The company caters to a wide array of appealing end markets, providing its clients with key insights into their equipment's health. Their state-of-the-art AI-enabled software platform furnishes action-oriented recommendations, enabling customers to maintain their equipment effectively.

Leadership Perspectives on the Strategic Move

Bryan Debshaw, the Chief Executive Officer of POLARIS, expressed enthusiasm regarding the new partnership, stating that it underscores the company’s unwavering focus on innovation. He believes that Riverspan's expertise will facilitate the development of their advanced tools, including the newly launched HORIZON tools and automation technologies. This collaboration is anticipated to not only enhance current offerings but also allow POLARIS to expand into new markets.

Vision for Future Development

According to Debshaw, partnering with Riverspan is a strategic decision integral to driving innovative advancements. The investment will open doors for further development, fostering a culture of continuous improvement and expanding POLARIS's reach within the industry.

Dave Thomas, a partner at Riverspan, shared his admiration for what POLARIS has accomplished over its 25 years. He highlighted the significant opportunities to invest in both product and service enhancements, alongside geographic expansion which can further empower the company’s growth. Riverspan is eager to support POLARIS in realizing its ambitious vision.

Advisors Supporting the Investment

In navigating this pivotal moment, POLARIS Laboratories has engaged KPMG Corporate Finance LLC as its financial advisor, while legal representation comes from Barnes & Thornburg LLP. Meanwhile, Kirkland & Ellis LLP serves as legal counsel for Riverspan Partners.

About POLARIS Laboratories

POLARIS Laboratories is an independent fluid analysis company headquartered in a strategic location with six additional laboratories globally. The firm specializes in testing and analyzing diverse fluids, helping clients reduce maintenance expenses and improve equipment reliability across various sectors, including transportation, mining, and energy. Their laboratory locations in the United States and Poland hold ISO17025:2017 accreditation, ensuring a commitment to high standards of quality.

About Riverspan Partners

Riverspan Partners is dedicated to investing in lower middle-market businesses within the industrials sector. By leveraging extensive industry expertise, Riverspan collaborates with management teams to catalyze growth and achieve sustainable success.

Frequently Asked Questions

What is the significance of Riverspan's investment in POLARIS?

This investment enables POLARIS Laboratories to enhance its innovation capabilities and expand into new markets, thereby strengthening its position in the industry.

How does POLARIS stand out in the fluid analysis industry?

POLARIS differentiates itself by providing superior analytical accuracy and quick turnaround times through its advanced laboratory testing and AI-enabled software.

What are the main services offered by POLARIS Laboratories?

POLARIS offers predictive testing and analysis of various fluids, helping clients to increase equipment reliability and avoid unscheduled downtimes.

Who are the advisors involved in this investment?

KPMG Corporate Finance LLC serves as the financial advisor while Barnes & Thornburg LLP provides legal counsel to POLARIS. Riverspan is advised by Kirkland & Ellis LLP.

What are the aims of Riverspan Partners in this partnership?

Riverspan aims to facilitate POLARIS's growth by investing in product and service development, as well as supporting geographic expansion initiatives.

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