TruArc Partners (a private equity firm focused on the middle-market) announced that it has acquired Meyer Laboratory from its owners Russell Meyer and William “Rusty” Meyer. Launched in 1978, Meyer Lab manufactures and distributes industrial and institutional (I&I) cleaning chemicals and applications systems.
Meyer Lab offers cleaning solutions to customers in multiple industrial and manufacturing markets who require clean, functioning equipment and facilities to operate their business. And Meyer Lab’s core chemical solutions include degreasers, disinfectants, sanitizers, and products for broader cleaning needs.
The company utilizes its expansive network of sales representatives and local depots to deliver and service its customers’ facilities routinely. And TruArc Partners will work with Meyer Lab to support its continued growth, investing in organic initiatives and targeting strategic M&A opportunities.
Mike Miller (President of Meyer Lab) will continue as President, and Rusty Meyer will remain with Meyer Lab as a key member of the Board of Directors. And John Schweig, an Operating Partner at TruArc, will join the Board of Directors as Non-Executive Chairman.
Lincoln International LLC served as financial advisor to Meyer Lab, and Baird served as financial advisor to TruArc Partners. And Husch Blackwell LLP acted as legal counsel to Meyer Lab and Davis Polk & Wardwell LLP acted as legal counsel to TruArc Partners.
KEY QUOTES:
“Meyer Lab, through the dedication of the Meyer family, has established a great reputation, culture, management team and manufacturing capability that has led to its success. Meyer Lab fits perfectly into our investment strategy focused on specialty manufacturing and business services, and we are excited to support them in their next stage of growth.”
“This is a wonderful company that has been built around great customer service. That will continue to be our relentless focus as we work with Mike and his team to pursue multiple avenues for growth so that Meyer Lab can reach its full potential.”
- John Pless, Co-Managing Partner at TruArc
“Selling Meyer was a hard decision for my father and me. The entire company is part of our family. However, it was the right time for us and for the company to make this transition. We believe TruArc is the right partner to help accelerate the growth of Meyer Lab well into the future.”
- Rusty Meyer, Co-Owner of Meyer Labs
“Our management team is extremely excited to be partnering with TruArc for our next chapter of growth. We believe the addition of TruArc’s expertise and resources will enable us to execute on key initiatives, expand our geographic reach, add new customers in additional end markets and expand our product capabilities.”
- Mike Miller, President of Meyer Lab
