High Street Capital Acquires Avomeen
PTSM: Pharmaceutical Technology Sourcing and Management
High Street Capital acquired Avomeen, a full-service chemical testing laboratory, in late December 2016
In late December 2016, Avomeen Analytical Services announced that the company has been acquired by High Street Capital, a Chicago-based provider of flexible capital and operating expertise to middle market businesses.
Avomeen is based in Ann Arbor, MI and specializes in chemical analysis, commercial product R&D, formulation, and pharmaceutical development. In a press release, Avomeen said it plans to double in size in the next five years. Shri Thanedar, CEO of Avomeen, said he hopes to double the company’s current employment from 50 staff members to 100 in addition to doubling revenue. The company plans to hire an additional 10 to 15 scientists in the next four months.
Avomeen has provided chemical testing and analysis for the pharmaceutical, cosmetic, consumer product, health and beauty, and manufacturing industries. The company focuses on deformulation, a type of reverse engineering that identifies ingredients in complex formulations.
Source: Avomeen
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