WOBURN, Mass.--(BUSINESS WIRE)--HighRes Biosolutions (“HighRes”), a leading manufacturer of laboratory automation systems and devices, announced today the sale of a majority interest in the company to Axel Johnson, Inc., a private company owned by the Johnson family of Stockholm, Sweden.
The partnership between the two companies is intended to add financial strength and resources to HighRes in support of its strong growth trajectory, led by founder Louis Guarracina and the existing management team.
"We are truly excited about the opportunity to partner with a great organization like Axel Johnson,” said Louis Guarracina, CEO at HighRes Biosolutions. “This partnership will allow HighRes to take a more aggressive approach in accelerating product development, leading to many new industry leading products in the next few years. HighRes is expecting to double its bookings from last year, and we are on the verge of introducing some of the most exciting new products in our history. Our management team will remain intact, and our sales and support organizations will be expanded to reach a larger segment of the market in the coming months."
“Our mission is to build companies that deliver both attractive long term investment returns and meaningful social contributions to the communities in which we live and work," said Michael Milligan, President and CEO of Axel Johnson, Inc. “The systems and products built by HighRes facilitate leading pharmaceutical companies and academic research centers in their efforts to discover new medicines, create new therapies for patients, and improve the health and well-being of generations to come. We are delighted to have HighRes join Axel Johnson family, and we look forward to working with Lou and his team to achieve our shared long-term vision for the business.”
About HighRes Biosolutions
HighRes Biosolutions, Inc. (www.highresbio.com) is the leader in the design and construction of innovative robotic systems and laboratory devices used by pharmaceutical, biotech, and academic research laboratories. HighRes helps scientists accelerate such research areas as drug discovery, high-throughput genotyping, siRNA screening, next-generation sequencing sample prep, biorepository science, molecular diagnostics, and more. HighRes offers highly flexible, expandable and modular integrated systems and bench-top devices that are easily configured (and reconfigured) for fast-paced, dynamic laboratories.
About Axel Johnson
Headquartered in New York City, Axel Johnson Inc. (www.axeljohnson.com) is the corporate home for a collection of diverse industry-leading businesses. AJI is a private investment company, founded in 1920 and owned by the Johnson family of Stockholm, Sweden. Axel Johnson Inc. acquires and invests in companies to own and operate them, with the goal of building long-term enterprise value. Some of the companies in Axel Johnson Inc.’s portfolio have been part of the group for over 40 years.