ARCADE, N.Y., Sept. 30, 2020 — Lakelet Capital LLC (“Lakelet”) is pleased to announce its investment in GenTech Scientific LLC (“GenTech” or the “Company”), a refurbisher, re-seller, and servicer of high-quality analytical instrumentation. Lakelet’s investment will support the buyout and provide growth capital to enhance operations, extend geography, and expand solution offerings.
GenTech has been providing scientists, researchers, and lab technicians with high quality mass spectrometers, gas chromatographs, high-powered liquid chromatographs, and consumables for over 25 years. GenTech serves customers in diverse industries including testing & diagnostics, agriculture, flavor & fragrance, oil & gas, academia, healthcare, pharmaceuticals, and cannabis.
Lakelet’s Managing Partner, Randy Bianchi, commented, “Lakelet has been seeking opportunities in the precision instrumentation market segment and was thrilled to develop a relationship with GenTech founder and industry pioneer, Clair Bragg. Together we quickly identified a mutual fit and a common vision to continue GenTech’s legacy and path to growth.”
As part of the investment strategy, Lakelet was pleased to recruit Michael Lippa as the new GenTech CEO, most recently, the COO of a leading global manufacturer and a Six Sigma Black Belt.
Michael Lippa, GenTech’s CEO, said, “I am thrilled for the opportunity to work collaboratively with the GenTech team, and to help lead GenTech’s next stage of growth. As a former client of GenTech, at Multisorb, having purchased instruments for our manufacturing lab, I can speak first-hand to the quality of the products, services and GenTech’s value proposition. After meeting the team, it was clear why GenTech has been celebrating such tenure, success, and reputation: they are knowledgeable about the business, care deeply about client satisfaction, and are committed to excellence.”
About GenTech Scientific LLC
GenTech is a leading refurbisher, re-seller, and servicer of high quality analytical instrumentation and consumables to laboratories. GenTech Scientific is located in Arcade, NY.
About Lakelet Capital LLC
Lakelet Capital is a Buffalo-based private equity firm investing in private companies for growth or succession. Lakelet takes a long-term investment approach helping companies go from “legacy to longevity”.
Thank you Dan Miner for consistently covering executives in the Buffalo area.
See article in Buffalo Business First