Hanson Lab Solutions Partners with Progress Equity Partners to Help Fuel Growth!
April 2023 – Hanson Lab Solutions (“Hanson Lab” or “HLS”), the largest direct manufacturer and supplier of laboratory furniture on the West Coast, is pleased to announce its recent investment partnership with Progress Equity Partners (“Progress Equity”).
Hanson Lab Amplifies Product Stock and Market Reach
The industry is experiencing incredible growth while funding for biomedical and life-science research continues to rise. HLS is well-positioned to continue supporting these critical research projects and will seek to continue to grow its footprint in new markets. Hanson Lab Solutions will use this investment to expand their stock program, new Agility modular table and bench systems, and a nationwide team that will result in a larger market share for the future.
Leadership Insights on the Future
“We designed Hanson Labs to be the standard of excellence in our industry. As we continue to grow as a national leader, we always want to keep the customer in mind.” said Joe Matta, Chief Executive Officer at Hanson Lab Solutions. “From the outset of meeting Progress Equity, we realized our shared value of integrity and vision for collaboration in building a world-class business would result in a great partnership and bright future for HLS.”
Steve Sangalis, Partner at Progress Equity, commented “we are excited to partner with Joe Matta and the entire HLS management team to continue Hanson Labs’ growth as an industry leading company.” Clay Fox, Progress Equity Vice President, added, “with record amounts of capital being deployed by pharma and biotech companies, HLS is poised to continue to be a model partner for companies expanding their research and development, clinical trial pipelines, and more.” Progress Equity partnered with NewSpring Mezzanine, First Capital Partners, and Enterprise Bank & Trust to complete the transaction.
About Hanson Lab Solutions
Founded in 1977 and headquartered in Camarillo, CA, Hanson Lab Solutions is the largest direct, vertically integrated lab casework manufacturer and interiors supplier in the western U.S. With 100’s of different SKUs in lab casework & furniture, fume hoods & enclosures, mobile and modular product lines, the Company has built a differentiated model of innovation and full-service capabilities to serve its customers in the life science industries. For more information, contact our team and we will be happy to assist.
About Progress Equity Partners
Progress Equity is a private investment firm that partners with lower middle market companies in a variety of industries. Our principals have been investing together in the private equity market for more than 25 years and have been a highly regarded investment partner to entrepreneurs, providing them the opportunity to gain liquidity while partnering with us to transition their businesses for future growth. For more information, visit ProgressEquity.com.
