Success Stories

Harvard BioScience:

• Ascent led the buyout of Harvard Bioscience (then know as Harvard Apparatus) in 1996
• Ascent assisted Harvard management with a roll-up strategy to acquire complementary instrumentation companies. With successful execution of this strategy, Harvard Bioscience completed an IPO in 2000.
• Ascent developed a strong relationship with Chane Graziano, Harvard’s CEO, which has led to additional investment opportunities, including Nova Analytics.

Harvard Apparatus was founded in 1903 by faculty members of the Harvard Medical School. The Company was known as a leading supplier of high quality scientific instruments. After a prior failed management buyout, Ascent made an initial investment in Harvard in 1996 by negotiating the acquisition of the Company from its senior lender. Ascent assisted in the recruiting of a new executive team for Harvard, obtained a new credit facility, and obtained a controlling interest in the new company together with Harvard management. Ascent assisted Chane Graziano, Harvard’s CEO, in the development and funding of a rollup strategy of acquiring complementary instrumentation companies. The Company enjoyed rapid revenue and EBITDA growth which led to an IPO in December 2000.

Ascent’s relationship with Chane Graziano has developed additional investment opportunities. Chane serves as the Chairman of Nova Analytics, an AVP IV portfolio company and also serves in Ascent’s Venture Partner Program.

 

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