Artemis Announces Sale of its Portfolio Company BioDot to ATS
BOSTON, June 17, 2021 /PRNewswire/ -- Artemis Capital Partners ("Artemis"), a Boston-based private equity firm focused exclusively on partnering with differentiated industrial technology companies, completed the successful sale of its portfolio company, BioDot ("the Company") to ATS Automation Tooling Systems Inc. (TSX: ATA).
Since its founding in 1994, BioDot has become an undisputed leader in the development of automated, high-throughput, ultra-low volume liquid handling systems for mission-critical applications. With a unique patent portfolio in ultra-low volume dispensing and novel applications, BioDot delivers testing and manufacturing solutions for its customers globally. From R&D to high-throughput point of care assay production, BioDot continues to innovate and partner across the biotechnology, diagnostic, industrial, life science, and medical device end markets.
BioDot achieved substantial growth since Artemis' acquisition in March 2020. The Company's evolution in commercial strategy, technological innovation, and market tailwinds propelled BioDot over the past year. The BioDot partnership is the latest example of Artemis capitalizing on one of their core theses - lab automation and diagnostics. A combination of revamped strategy and a committed team were imperative to BioDot's success.
Peter Hunter, Founder and Managing Partner of Artemis and Chairman of BioDot, commented on the transaction: "We're very proud of the BioDot team and their growth over the past year. The team's unwavering dedication to quality, customers, and innovation has made BioDot a leader in precise, ultra-low volume fluid dispensing in the point-of-care and clinical diagnostics end-markets. It was a great partnership from day one."
Anthony V. Lemmo, CEO of BioDot, echoed the same sentiment: "Our partnership with the Artemis team was pivotal to our strategic growth since the acquisition. We believe that we have a great foundation for our next chapter, and we are thrilled with the outcome."
Baird was the financial advisor and Morgan Lewis was the legal advisor for Artemis.
Founded in 1994, BioDot manufactures premium non-contact and quantitative fluid dispensing systems. Combined with its expertise in lamination, cutting, and assembly, its wide range of platforms serve BioDot's customers from R&D through high-volume manufacturing in the industrial, diagnostic, life science, and medical product markets. Based in Irvine, California, BioDot has international offices to service a variety of industries in every nation. Its long-lasting relationships with customers are built on precision products and quality service around the world. Visit the company's website at https://www.biodot.com for more details.
Founded in 2010, Artemis is a Boston-based private equity firm focused on acquiring and growing manufacturers of differentiated industrial technologies, including analytical and lab instrumentation. Artemis seeks to partner with companies that have strong established management teams, outstanding engineering capabilities, unique products, and expanding niche markets. For more information on Artemis, please visit: www.artemislp.com
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SOURCE Artemis Capital Partners