Mesa Laboratories Acquires Canadian Company Infitrak

Lakewood, Colo.-based process monitoring and validation company Mesa Laboratories Inc. has acquired Canadian company Infitrak Inc. Infitrak is based in Markham, Ontario outside Toronto, and provides consulting, packaging and measuring solutions for cold chain applications.

A “cold chain” is a supply chain for temperature sensitive substances involving an uninterrupted series of storage and distribution activities which maintain a given temperature range from point of manufacture or collection to point of use.

The deal is valued at $9.6 million at present, with an additional $12 million during the first two years based on growth milestones. Mesa officials expect the acquisition to add approximately $5.5 million to its annual revenues.

Infitrak will continue its operations from the Markham facility, expanding its focus beyond Canada to the United States and other markets. The Infitrak management team will remain with the company, helping to drive growth of the business.

“Cold chain markets are expanding worldwide and we are excited about adding Infitrak’s offering to Mesa’s portfolio of products,” said John J. Sullivan, president and CEO of Mesa. “Infitrak’s strategy is unique in the industry, offering a complete suite of solutions, including cold chain services, package assessment and design and real time data monitoring. Infitrak’s business has been expanding rapidly in recent years and, by leveraging Mesa’s resources and contacts in the pharmaceutical industry, we are looking forward to continued rapid growth as we take their business model from Canada into the U.S. market. Cold chain products fit very well with Mesa’s market focus, as they are used mainly in regulated markets for maintaining quality products, and they complement our Datatrace and Continuous Monitoring product lines. I look forward to working with the entire Infitrak team as we execute our strategy to grow the business in the U.S. and beyond.”

“We are thrilled to join a quality organization like Mesa and continue to grow our cold chain product and service offerings,” commented the three Infitrak shareholders Jean Bedard, Karl Giamov and Ryan Sanders. “This will provide us with a great opportunity to expand our business into the United States and other territories rapidly. We will continue to produce quality products and services to help customers with their regulatory cold chain needs.”