BroadOak Partners advised KCAS, a Vitruvian Partners portfolio company, on the acquisition of FlowMetric, LLC. FlowMetric is a leading provider of flow cytometry and cellular assay R&D services to biotech, pharmaceutical and cell and gene therapy industries.
The full press release is below.
KCAS Bioanalytical and Biomarker Services, a Vitruvian Partners portfolio Company, announces acquisition of FlowMetric, LLC
KCAS’ acquisition of FlowMetric LLC enables KCAS to further meet customer demand and accelerate its rapid growth in becoming the CRO provider of choice for outsourced Cell and Gene Therapy programs.
KANSAS CITY, Kan.–(BUSINESS WIRE)–KCAS: Continuing to deliver against both growth objectives and more integrated customer service offerings, KCAS has acquired FlowMetric, LLC, a leading provider of flow cytometry and cellular assay R&D services to biotech, pharmaceutical and cell/gene therapy industries. Financial terms of the transaction were not disclosed. KCAS is a leading U.S.-based Contract Research Organization providing comprehensive GLP-compliant bioanalytical and biomarker development testing services for the biotech, pharmaceutical, and cell/gene therapy industries. KCAS offers a complete range of bioanalytical services from early discovery support through registration, providing expertise in biological (large molecule), synthetic (small molecule) and cell/gene therapy drug candidates. FlowMetric is a leading provider of flow cytometry and cell-based assays located in Doylestown Pennsylvania and Milan, Italy. Vitruvian Partners, one of the world’s leading growth-focused investment firms, acquired KCAS in April 2021. The combined companies are positioned to continue growing operations in Kansas City, Doylestown, PA and Milan, Italy.
John Bucksath, CEO of KCAS, commented, “We are delighted to partner with the FlowMetric team, accelerating our combined offering to support the industries and customers we serve. We are committed to supporting FlowMetric to expand its technical reach, capacity, and resources through growth investments. KCAS has embarked on significant investments, including a nearly completed 70,000 sq. ft. new facility in Kansas City; Continuing to attract the industry’s top scientific talent and focusing on outstanding customer service; and accelerating internationalization through additional acquisitions. With our investors, Vitruvian Partners, we are optimally positioned to invest in our people and deliver world class services for our growing client base. The acquisition of FlowMetric allows our combined clients access to further operational support to meet the increasing demand we see and to meet the industry’s needs.
Sophie Bower-Straziota, Partner at Vitruvian Partners, comments, “FlowMetric has built a very strong reputation in flow cytometry services. The company is an excellent fit with our investment strategy of backing best-in-class operations offering services to a market with strong tailwinds with internationalization opportunities. Vitruvian has invested in KCAS and the acquisition of FlowMetric to help build on the excellent foundations, and hence support the increasing needs of the company’s growing pharmaceutical and biotech clients. As the drug development market continues to evolve, our investment creates the opportunity to broaden capabilities, advance geographical reach, provide the resources to scale the business, and make strategic acquisitions.”
Ren Capocasale, Founder and CEO of FlowMetric, LLC comments, “We are excited about the partnership with KCAS and the combined organizations’ outlook for providing best-in-class services for the biopharma and life sciences sector. KCAS’ alliance and ability to provide the support and growth we need to expand our expertise and capacity will be a welcome opportunity to see our initial investment flourish with a mature and expanding organization, backed by a world-class leading growth investor.
KCAS was advised by BroadOak Capital Partners and Polsinelli. FlowMetric was advised by Morgan Lewis.