Biomedical Solutions, Inc. Has Been Acquired by LabRepCo Holding Corporation, an Employee-Owned Company
HOUSTON, TEXAS (January 7, 2021) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Biomedical Solutions, Inc. (“BSI” and/or the “Company”) has been acquired by LabRepCo Holding Corporation (“LabRepCo”), an employee owned company. Statesman served as the exclusive financial advisor to BSI on the transaction which closed December 31, 2020.
“We’ve worked with the people at BSI for years and know the integrity and expertise they offer their customers. BSI is a great cultural fit with LabRepCo and an equally great strategic fit. Combined, these two companies will be positioned to benefit our customers across a greatly expanded geography and with a broader array of solutions.” – Rich Dougherty, LabRepCo President
“We are tremendously pleased to partner with LabRepCo, undoubtedly one of the premier leaders in our industry. This transaction is the ideal culmination of 20 years of effort in building BSI to a first-tier rep organization. With the added resources, ESOP structure, additional lines, and geography that LabRepCo brings to the table, all the company’s constituents including customers, suppliers, employees, and shareholders, are positioned to benefit. Additionally, we were tremendously pleased with the work Statesman did in helping us get this transaction structured correctly and across the finish line.” – Bill Stacy, BSI President
About the other transaction participants
Johnson DeLuca Kurisky & Gould, P.C. (“JDKG”) (Houston, TX), led by Partner Don Gould and Senior Counsel Scott Franck, served as legal counsel to BSI. Founded in 1995, JDKG is a Houston based commercial transactions and litigation law firm. In addition to M&A, JDKG key practice areas include auto dealerships, oil & gas, banking, real estate, labor and environmental.
SES ESOP Strategies (“SES”) (Bala Cynwyd, PA), led by Chairman James G. Steiker and Shareholder Sean-Tamba Matthew, served as legal counsel to LabRepCo. SES is a national ESOP firm, with offices in PA, NY, TX, OH, FL, MA, NJ, and CO, that combines the expertise of ESOP consulting, financial, investment banking, and legal professionals to assist companies in creating and maintaining successful, sustainable employee ownership results throughout the entire ESOP lifecycle. SES balances the needs of owners, managers, the company, and its employees to ensure long term corporate sustainability with substantial employee ownership.
Viviano & Associates, PC (“Viviano”) (Dallas, TX), a full-service CPA firm provided accounting and tax advisory to BSI, led by Shareholder Sam Viviano, CPA.
Kreischer Miller (Horsham, PA), a full-service CPA firm provided accounting advisory to LabRepCo led by Director Steven Staugaitis, CPA, CVA.
Statesman Corporate Finance, LLC (Houston & Austin, TX) is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation, and other general corporate financial advisory services to middle-market companies. Managing Principal Will Jaco, Vice President Peter Chiu, and Analyst Anthony Hernandez led the transaction on behalf of Statesman.