SIMSBURY, CT--(Marketwire - August 30, 2010) - As part of its business growth and diversification strategy, Ensign-Bickford Industries, Inc. "EBI" announced today that its subsidiary, EB Analytics, Inc. has acquired EnviroLogix Inc. ("ELIX"). ELIX is a Portland, Maine-based developer and manufacturer of rapid QuickStix™ and QuickScan™ agricultural test kits and readers. The terms of the transaction were not released.
Caleb White, Chief Executive Officer of EBI, said, "The combination of EBI's capital strength, long history of operational excellence and tradition of dedicated customer focus, coupled with the outstanding talent and technologies we see in EnviroLogix, makes this a very compelling platform for profitable growth. The EBI family is excited about entering into the laboratory services area with an industry leader that has such a well-developed reputation for technology, quality and service and is one of the top companies in the rapid test kits business."
Bruce Ferguson, the founder and CEO of EnviroLogix Inc., commented, "The acquisition by EBI is a win-win situation; EBI is buying a company with a worldwide reputation, great products, a dedicated workforce and wonderful growth potential. At the same time, ELIX has found an organization that itself is dedicated to quality, customer service, and support of its newest subsidiary. The opportunity to accelerate new product development in our immuno- and molecular diagnostic core businesses simply could not be ignored. We are positively delighted to be part of such a stellar team of companies and professionals."
As a diversified company, EBI looks to invest in markets and technologies that not only fit as a standalone platform, but also provide partnering opportunities with existing subsidiaries. AFB International ("AFB"), the pet food ingredient company of EBI, sees immediate opportunities that will support both ELIX growth and AFB's strategy. According to AFB's CEO, Jackie Levin, "Pet food safety concerns are at an all-time high, due in large part to consumers' humanization of their pets and recent issues in pet foods and treats. As a result, the pet food industry and those of us who support it need quick and reliable quality control methods to ensure the food supply is safe and secure. We look forward to working with EnviroLogix to meet this ever-growing need of our customers."
EBI is a privately-held company that, through its subsidiaries, provides ordnance products to the aerospace and military markets, highly-engineered pet food palatants to commercial customers, renewable bio energy products, specialty chemicals, and residential and commercial real estate services. EBI is headquartered in Simsbury, Connecticut. More information about EBI can be found at www.e-bind.com.
About EnviroLogix: Founded in 1996, EnviroLogix develops, manufactures, markets and sells immunoassays for detecting proteins, enzymes, mycotoxins, plant pathogens, natural toxins and chemical contaminants in multiple plant matrices. In 2009, through the acquisition of exclusive worldwide rights to patented isothermal Nicking Enzyme Amplification Reaction (NEAR) technology, EnviroLogix broadened its custom assay development capabilities to include rapid, field-friendly molecular diagnostics designed specifically for agricultural, plant pathogen and veterinary applications. More information about EnviroLogix can be found at www.envirologix.com.
Contact Information:
Contact:
Bruce Ferguson
President
EnviroLogix Inc.
207-797-0300