Greensboro, NC – February 28, 2020. Process Insights, a portfolio company of Union Park Capital, announced today that it has acquired Extrel CMS, LLC (“Extrel”), the leading manufacturer of research and process mass spectrometers. Extrel, which is based in Pittsburgh, PA, will join Process Insights’ existing portfolio of process instrumentation manufacturers including, COSA Xentaur, Alpha Omega Instruments, Hygrocontrol, LAR Process Analysers, Tiger Optics, and ATOM Instrument as another premium brand within Process Insights. Terms of the transaction were not disclosed.

Extrel has over 50 years of technology innovation and a global customer base across large research and national labs, chemical, refining and pharmaceutical industries. The company was founded in 1964 as Extranuclear Laboratories created by Ted Brackmann and Wade Fite, professors from the University of Pittsburgh, to provide innovative power supplies for mass spectrometry. In 1985 Extranuclear Laboratories became Extrel Corporation to further focus on analytical mass spectrometry products and later in 2004 became Extrel CMS, LLC. Extrel’s products help organizations continuously identify and quantify various molecular components in process environments to ensure safe operations, increase process efficiency and product quality, reduce disruptions and downtime, and attain compliance with numerous and complex regulatory requirements.

“Extrel is a perfect addition to our other Process Insights’ companies. The products and technology are highly complementary to our other businesses and will help us offer a complete solution to our customers,” said Monte Hammouri, CEO of Process Insights. “Extrel’s state-of-the-art mass spectrometers, as well as its after-sales service organization will enhance Process Insights and strengthen our position as a leading provider of process analytical instrumentation. The history and reputation of the Extrel brand as a technical and market leader is second to none. We are thrilled to welcome Extrel to the Process Insights family.”

“I believe that Extrel has great opportunity to take its excellent products and people and reach new markets and customers. Process Insights brings resources and capabilities to support Extrel’s discovery of its potential. As a Process Insights company, Extrel looks forward to working with these businesses to achieve the next chapter of success” added Luke Kephart, President of Extrel.

BOSTON, MA – January 18, 2018. Union Park Capital, a Boston based private equity firm with focus on lower middle-market industrial technology investments, today announced the acquisition of LAR Process Analysers AG (“LAR”), located in Berlin, Germany. LAR develops and manufactures water analyzers for industrial, environmental and municipal applications based on highly differentiated high-temperature combustion technology. LAR will join Cosa Xentaur Corporation and Alpha Omega Instruments as an independent operating entity under Union Park’s newly created Process Insights Holdings platform.

“We are very excited about this acquisition,” notes Morgan Jones, Managing Partner of Union Park Capital. “LAR is a perfect example of everything we look for – the business has product differentiation, a strong brand name and a highly technical workforce with deep application knowledge. Today LAR has an incredibly strong presence in Europe, but as part of Process Insights, LAR will be able to expand internationally taking advantage of a global sales network.”

“The Union Park Capital team has extensive experience investing in family owned European businesses, specifically in Germany,” said Dr. Werner Arts, Founder and Chairman of LAR. “They have a proven track record not only of success, but also of trust and integrity. I believe LAR has found an ideal home at Union Park and Process Insights.”

The strategic announcement comes just weeks after Union Park announced the acquisition of Cosa Alpha Omega Instruments late in 2017. LAR, together with the other business units within Process Insights, will continue to develop and invest in cutting-edge technologies in process analysis. As usual with Union Park’s historical business practice, LAR will remain in Berlin, Germany.

About LAR Process Analysers AG

Established in 1986 by Dr. Werner Arts in Berlin, Germany, LAR develops and manufactures advanced solutions for water analysis. The company’s key competence is the measurement of various water parameters – concentrating on TOC, TC, TOD, COD, BOD, TNb and toxicity – based on high-temperature combustion analyzer. In addition to its German Headquarters, LAR has opened a regional support office in China. For more information visit www.lar.com.

About Union Park Capital

Union Park Capital is a private equity firm solely focused on lower middle-market industrial technology companies. Union Park takes a long-term perspective to help stakeholders build value over time, and drives value creation through profitably growing a business, not financial engineering. Union Park Capital is based in Boston, MA and has extensive investments and expertise in the analytical instrumentation sector. For more information, visit www.union-park.com.