ST. LOUIS--(BUSINESS WIRE)--Compass Group Equity Partners, a St. Louis-based private equity firm, announced the sale of The Allied Group to Lab Logistics, a leading provider of outsourced medical supplies, kitting and logistics services to the healthcare industry and a portfolio company of Atlantic Street Capital. The Allied Group, founded in 1946, is a leading fulfillment services provider offering document management, kitting, and mailing services to healthcare and life science organizations worldwide.
Compass Group acquired Allied in 2019 with a focus to invest in and expand the kitting division amid the global shift to personalized medicine. Now a core growth engine for the business, kitting has experienced consistent year-over-year increases under its partnership with Compass. Allied now has over 250 employees with operations in both North America and Europe.
“The partnership with Lab Logistics represents an exciting next step in Allied’s journey,” said Chris Gibson, Managing Director at Compass Group. “The team has continued to provide best-in-class solutions to an ever-growing list of premier customers in the healthcare and life sciences markets and we couldn’t be more excited for the future of Allied.”
“Lab Logistics is a fantastic home for Allied and one that will allow us to continue serving our loyal customer base and expand our product and service offerings to customers both domestically and abroad,” said Bob Clement, Allied’s Chief Executive Officer. “Compass Group saw the value in our end-to-end solutions early on and has been an invaluable resource to Allied as we continue on our path.”
Terms of the transaction were not disclosed.
About Compass Group Equity Partners
Compass Group Equity Partners, founded in 2015, is a St. Louis-based private equity firm with a record of success in partnering with and building lower middle-market companies. By leveraging the Firm’s operational, financial and strategic expertise, Compass Group provides hands-on support and resources to aid management teams in exceeding historical performance and accelerating growth.
About The Allied Group
The Allied Group provides a comprehensive suite of services including design, print, assembly, document management, and fulfillment of diagnostic kits and associated collateral for Healthcare and Life Science companies. Allied operates from an FDA approved assembly facility with fulfillment centers able to serve North America and Europe with prompt response times and full track and traceability via a customer portal.
About Atlantic Street Capital
Atlantic Street Capital (“ASC”) is a private equity firm that invests in lower middle market companies poised for the next level of growth. The firm targets entrepreneurial management partners and fundamentally sound companies between $4 million and $25 million of EBITDA that will benefit from capital investment and ASC's value-added strategic and operational support. As a result, ASC works closely with management to unlock their business' underlying value and help them succeed. For more information www.atlanticstreetcapital.com.
About Lab Logistics
Lab Logistics provides mission critical, asset‐light dedicated‐route transportation solutions exclusively focused on the medical laboratory and hospital industry.
