Evergreen Advisors Capital, a middle-market investment bank, is pleased to announce that PathSensors, Inc. (“PathSensors” or the “Company”) has been acquired by Smiths Detection (“Smiths”). Evergreen Advisors Capital acted as the exclusive financial advisor to PathSensors with legal advice provided by Whiteford, Taylor & Preston, LLP.
PathSensors is a leading biotechnology solutions and environmental testing company based in Baltimore, MD that provides high-speed, high-sensitivity pathogen detection and threat prevention solutions. PathSensors’ solutions can detect a wide range of threats, including anthrax, ricin, Ebola, salmonella, Phytophthora, Ralstonia, and many more. The Company’s technology supports a growing library of threat detection capabilities and can be expanded to meet emerging and specific threat detection requirements. PathSensors shares a similar customer base to that which Smiths Detection serves for chemical-threat detection, while also offering an expanded end-use market into adjacent security markets such as food and agricultural safety.
“PathSensors is a company with an established history of developing biological-threat detection devices with our proprietary CANARY technology,” said Ted Olsen, PathSensors President and CEO. “We are looking forward to becoming the Smiths Detection center of biotechnology excellence based in Baltimore, Maryland.”
“The acquisition of PathSensors will allow us to broaden our detection capabilities within the biological spectrum, which is becoming more relevant in the current environment,” said Roland Carter, President of Smiths Detection. “This is consistent with our approach to increase our focus on investing selectively in technology and innovation for the purpose of getting closer to our customers and expanding into new markets.”
Terms of the transaction were not disclosed.
About Smiths Detection
Smiths Detection, part of Smiths Group, is a global leader in threat detection and screening technologies for aviation, ports and borders, defence and urban security markets. Our experience and history across more than 40 years at the frontline, enables us to deliver the solutions needed to protect society from the threat and illegal passage of explosives, prohibited weapons, contraband, toxic chemicals and narcotics. For more information visit www.smithsdetection.com or follow us on: LinkedIn at www.linkedin.com/company/smiths-detection
PathSensors is a leading biotechnology solutions and environmental testing company providing high-speed, high-sensitivity pathogen detection and threat prevention solutions. PathSensors’ solutions detect a wide range of biological agents and threats. Visit PathSensors at www.PathSensors.com
About Evergreen Advisors Capital
Evergreen Advisors Capital, LLC is a leading investment banking and corporate advisory firm focused on assisting emerging growth and middle-market companies in the areas of corporate finance, growth and exit strategies, valuations and advisory services. For more information, visit www.evergreenadvisorsllc.com/
Securities transactions conducted through Evergreen Advisors Capital/Member FINRA/SIPC.