Print Page   |   Contact Us   |   Sign In   |   Join
News and Press: Member Organization News

Private Equity Firm Buys Controlling Interest in Avomeen

Wednesday, December 7, 2016   (0 Comments)
Posted by: Kate Oesterle
Share |

High Street Capital, a Chicago-based private equity firm, planned to announce Monday that it has bought a controlling interest in Ann Arbor-based Avomeen Analytical Services LLC, a fast-growing chemical testing and analytics company.

In June, Shri Thanedar, who founded Avomeen in 2010 and is its CEO, was named an Entrepreneur of the Year by Ernst & Young for the Michigan and northwest Ohio region, and the company has been on the Inc. 5000 list of fastest-growing private companies in the U.S. two years in a row.

In 2015, Avomeen was ranked 673rd for its 670 percent growth rate over three years, and in 2016, the company was ranked No. 1,365 for a three-year growth rate of 281 percent. Thanedar said the company has grown revenue by 400 percent in the last four years to more than $10 million.

In 2014, Thanedar was a finalist at a Crain's Salute to Entrepreneurs event.

Thanedar said that with High Street's support, the plan is to grow Avomeen through acquisition and to expand its brick-and-mortar presence to California. He said he will remain as CEO for now, but the company will start looking for a replacement.

Read full article.

 


Creating Value
by delivering business-critical resources & bottom line savings
Building Networks
by connecting Michigan's bio-industry one member at a time
Growing Talent
by creating opportunities that develop people & build organizations
Membership Software Powered by YourMembership  ::  Legal