GSI Group Holdings has acquired Aven Tools, expanding its portfolio of precision tools, microscopes and laboratory workflow products. Financial terms of the transaction were not disclosed.
Aven designs and manufactures proprietary instruments and accessories used across medical device manufacturing, research laboratories and industrial electronics.
Its product portfolio includes digital and stereo microscopes, cameras, LED illumination products, magnifiers, tweezers and other precision hand tools. The company distributes its products through a national dealer network serving original equipment manufacturers and research institutions in North America and international markets.
Aven has operated for more than 45 years and has developed an established customer base of more than 1,000 organizations.
The acquisition adds Aven to GSI Group’s existing portfolio of brands, which includes Globe Scientific, AmScope, Euromex and GenesisBPS.
GSI Group supplies laboratory consumables, benchtop equipment, instruments and workflow tools to research institutions, diagnostic laboratories, hospitals, universities and industrial organizations.
The company operates across the U.S., Europe and Asia and serves customers in more than 100 countries.
GSI expects to use its supply chain, international distribution and cross-selling capabilities to introduce Aven’s products to a broader customer base.
The acquisition also strengthens GSI’s presence in medical device and industrial electronics workflows while adding a repeat-purchase product portfolio and a well-established dealer channel.
GSI said it plans to continue pursuing acquisitions of laboratory and scientific equipment brands across North America and Europe.
KEY QUOTES:
“Partnering with GSI gives us the supply chain capabilities, global distribution footprint and cross-sell platform to bring our products to a far broader set of customers worldwide.”
Mark Kanpurwala, Co-Owner of Aven Tools
“Aven Tools is an outstanding strategic fit for GSI. Its differentiated portfolio of proprietary precision tools and accessories deepens our presence across industrial electronics and medical device workflows.”
Jon Brubaker, CEO of GSI Group
