No financial details have been revealed
SP Industries and its affiliated companies are now part of the Harbour Group, a US-based privately owned investment corporation.
Terms of the transaction were not disclosed.
SP, based in Warminster, PA, is a designer and manufacturer of scientific equipment, biological drug manufacturing systems, and precision labware. Its product portfolio includes lyophilisers, centrifugal evaporators, stability chambers, NMR (nuclear magnetic resonance) tubes and laboratory glassware, thermal control systems and laboratory apparatus. These products are supplied to the pharmaceutical, biotechnology, scientific, university, healthcare, industrial, aeronautic, and semiconductor industries. They are distributed globally under the SP umbrella of brands, which include Hull, VirTis, FTS, Genevac, Hotpack, Bel-Art, H-B Instrument and Wilmad-LabGlass.
SP has nine manufacturing facilities and three service centres in the US and UK.
'We are very excited to welcome the impressive SP management team to our family and support them as they pursue their growth objectives,' said Jeff Fox, Harbour Group's chairman and CEO.
'We plan to accelerate their investment in new product development, geographical expansion and complementary acquisitions, as we have done with our companies for the last 40 years.'