SFW Capital Completes Strategic Recapitalization of Caron Products and Services

Growth-Oriented Private Equity Firm SFW Partners with Leading Provider of Laboratory Equipment to Drive Growth Through Expansion of Product Portfolio and Strategic Acquisitions

RYE, N.Y. – SFW Capital Partners (“SFW”), a specialized private equity firm that invests in leading providers of instrumentation, laboratory products, software/information and related solutions, today announced that it has completed a recapitalization of Caron Products and Services, Inc. (“Caron”).  Caron is a leading provider of laboratory equipment used in small and large molecule drug development and manufacturing, cell and gene therapy, and academic research. SFW is partnering in this investment with Caron President and CEO, Steve Keiser, and its Vice President, Dave Figel, who will both continue in their current roles and remain significant shareholders.

With SFW’s strategic support and resources, Caron plans to make significant investments to expand its product portfolio, enhance its sales and marketing function, extend its service capabilities and pursue acquisitions to drive growth.

Founded in 1985 and headquartered in Marietta, Ohio, and owned by the Christy family and management, Caron manufactures a line of environmental testing chambers, incubators and growth chambers known for their innovative features, high quality and reliability.  Its products are used for FDA-required QA/QC stability testing during drug development and manufacturing, incubation in clean-room environments, and growth of samples in academic research.

“We are delighted to build on our success over the last decade and partner with SFW to continue to serve our customers with innovative laboratory products,” said Keiser. “We are looking forward to leveraging SFW’s expertise and resources to help accelerate our product roadmap, enhance service and support infrastructure, and engage even more deeply with existing and new customers.”

“Caron exhibits key characteristics that we look for in laboratory and life sciences tools platform companies: proprietary technology, high value proposition, deep domain expertise and significant opportunities for expansion through organic and inorganic growth,” said Ahmad Sheikh, a Partner at SFW, who will be a member of Caron’s Board of Directors. “We are excited to partner with Steve, Dave, and the entire Caron team and provide them with the resources and capital to support their growth plan and accelerate their trajectory through strategic acquisitions of complementary businesses.”

SFW and its principals have deep experience in supporting the growth and development of leading providers of laboratory instrumentation and equipment, including Essen Bioscience, Micromeritics, Spectro Scientific, Mettler-Toledo, and Waters Corporation.

The relationship between SFW and Caron was initiated through a direct dialogue between both parties. Neither party worked with a financial advisor to complete the transaction.

About Caron Products and Services

Founded in 1985 in Marietta, OH, Caron is a leading provider of laboratory equipment used in small and large molecule drug development and manufacturing, cell and gene therapy, and academic research. Caron’s products, which include environmental testing chambers, incubators and growth chambers, are used for FDA-required QA/QC stability testing during drug development and manufacturing, incubation in clean-room environments, and growth of samples in academic research. Caron sells its products to a diverse range of customers in the biopharmaceutical, biotechnology, outsourced pharmaceutical services, consumer products, and academic industries, among others. For more information, visit www.caronproducts.com.

About SFW Capital Partners, LP

SFW Capital Partners is a specialized private equity firm that invests in leading Information, Software, Industrial and Healthcare Technology companies. These companies, which include providers of instrumentation, laboratory products, software/information and related solutions, provide a high return on investment to their customers and can serve a wide variety of end-markets. Our principals’ 25+ years of investing in and experience with relevant business models, technologies, competitive dynamics and service requirements gives us confidence in our ability to support management teams in growing their companies and building value. For more information, visit www.sfwcap.com.

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