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Article: Summit Partners Buys ApoCell Stake.(News)
- Article from:
- Mergers & Acquisitions Report
- Article date:
- October 5, 2009
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Byline: Avram Davis
Boston, Massachusetts-headquartered private equity firm Summit Partners has acquired an undisclosed minority stake in ApoCell, Inc., a specialized molecular diagnostics laboratory in Houston, Texas.
The firm did not disclose the amount of its stake in ApoCell. In speaking with MergersUnleashed, managing director Thomas H. Jennings said the capital will be used to fund "rapid organic growth" and he does not foresee a significant acquisitional strategy.
Specifically, the investment will support the oncology-focused pharmaceutical developer's growth initiatives and efforts at developing proprietary technology platforms. "We ...