Bioreclamation sources and distributes animal and human biological products to a diverse customer base which includes researchers at leading pharmaceutical companies, contract research organizations, and diagnostic companies.

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OVERVIEW

Bioreclamation’s primary shareholders, two brothers, were seeking to achieve a degree of personal asset diversification and take on a partner to support more aggressive reinvestment in the business. They also sought the expertise required to accelerate multiple growth opportunities. The shareholders selected Lineage because of our unique recapitalization model, which would allow them to meet their personal liquidity and growth objectives while leaving them in control of the company’s Board of Directors.

During our investment period, Lineage guided the development of the leadership team and organizational structure to establish a sustainable long-term business. Lineage worked with Bioreclamation to recruit several new leaders into the company—most notably a COO and a CFO. Lineage also assisted in elevating the company’s focus on expanding its high-growth human disease state business and on formalizing key aspects of the business, including monthly financial reporting and budgets, costing systems, and development and tracking of key operating metrics.

RESULTS

Bioreclamation experienced strong organic growth during Lineage’s investment period. When we sold our investment to a private equity firm, Bioreclamation’s CEO/shareholder enjoyed an attractive second liquidity event, retained an ownership position in the business, and identified a new investor who could help him continue to execute on his growth vision for the company.

Investment Date: March 2010
Exit Date: April 2013

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