BroadOak Capital Partners advised the Board of Directors of Enzo Biochem on strategic alternatives and the take-private transaction by Battery Ventures.
The full press release is below.
BOSTON–Battery Ventures, a global, technology-focused investment firm, announced the completion of its take-private of Enzo Biochem (“Enzo”), a life-science research reagents company.
Enzo offers over 200,000 research reagents, including labeling and detection kits, antibodies, assays, and proteins for academic, pharmaceutical, and biotech research. Enzo’s products are cited in more than 175,000 published studies across genomic, protein, cellular, and tissue analysis.
With its decades of expertise, Enzo has earned the trust of scientists worldwide for its deep catalog of products, commitment to quality and strong industry reputation. Battery’s investment is intended to accelerate Enzo’s next phase of innovation and growth by combining the company’s strong brand and deep scientific expertise with Battery’s track record of investing in life-science and research-tools companies globally.
“This investment comes after years of tracking Enzo, whom we consider a leader in the research-reagents market,” said Justin Rosner, a Battery Ventures partner. “We’re excited to build on Enzo’s strong fundamentals and brand by helping the company develop new products, expand market share and pursue strategic acquisitions. Together, we’ll prioritize operational excellence and strive to deliver value to Enzo’s customers.”
“We believe deeply in Enzo’s growth potential and see Enzo as a foundation on which to build a world-class reagents business,” said Jesse Feldman, a Battery Ventures general partner. Specifically, Battery will drive growth and innovation by supporting Enzo’s core product and technical strengths; investing further in R&D; and pursuing targeted acquisitions to broaden the company’s reach into new scientific research applications, as well as new global markets.
As part of this initiative, veteran life-science executive Jason Apter has joined Enzo as group CEO. Apter previously served as CEO of Sannova Analytical, an organization offering bioanalytical and analytical testing services to pharmaceutical and biotech companies. He also held senior leadership roles at MilliporeSigma and Johnson Matthey.
Apter will be supported on Enzo’s board of directors by Battery’s Rosner, Feldman and Alan Hirzel, the former CEO of biological-reagents company Abcam.
“I’m genuinely excited to collaborate with the board and the Enzo team as we move into a pivotal phase of the company’s development,” said Apter. “I look forward to applying my industry experience to accelerate growth, strengthen operational excellence and foster innovation, all under the banner of a highly respected brand.”
