SP Industries
SP Industries, Inc.
Fund: I
Investment Date: December 1996
Exit Date: March 2005
Headquarters: Buena, New Jersey
SP Industries, Inc. (“SPI”), headquartered in Buena, New Jersey, is a leading manufacturer of laboratory glassware and laboratory equipment. SPI is comprised of five relatively similar-sized divisions, which primarily serve the needs of the pharmaceutical, biotechnology and research industries, as well as a variety of OEM users.
Merit provided subordinated debt and common stock to finance the acquisition by management and an outside investor group.