PNC Equity Makes Additional Investment in Lab Products
Wheaton Industries, also owned by PNC Equity Partners, acquired Laboratory Sales Limited earlier this year (see IBO 2/15/11). According to a March SEC filing, Environmental Express raised $35.5 million through equity and debt offerings. The company has 48 employees.
Pittsburgh, PA 3/11/11—Environmental Express, a manufacturer and distributor of consumable supplies and equipment for environmental laboratories, has been acquired by PNC Financial Services Group and PNC Equity Partners from Florida Capital Partners. Based in Mount Pleasant, South Carolina, and founded in 1988, Environmental Express sells products to more than 2,500 customers. Environmental Express’s product lines include the AutoBlock for metals digestions, the SimpleDist for ammonia and cyanide distillations, single-use resin-coated biochemical oxygen demand bottles and preweighed ProWeigh filters. Two representatives of PNC Financial Services Group and two representatives of PNC Equity Partners will join Environmental Express’s Board.
