CHICAGO, February 8, 2011
Based in Ann Arbor, Mich., Accuri is a worldwide provider of easy-to-use, cost-effective flow cytometers to the life sciences research community. Explicitly designed for routine use by scientists in their own labs, Accuri’s low-cost, high-functionality C6 flow cytometer has gained rapid market acceptance in the research tools market. Accuri is now leveraging its platform technology to enter the clinical flow cytometry field.
“Accuri is leading a paradigm shift in the research flow cytometry market with its technology and we are proud to have played a role in supporting the company through its development and early commercialization” said Pete Shagory, a Partner of BVP. “We are also pleased to provide an attractive return to BVP II investors, and this exit further reinforces our commitment to investing in the life sciences sector.”
BVP led the Series B financing round for Accuri in May 2007 and participated in subsequent financing rounds while also recruiting additional institutional investors to the company. BVP Partner, Pete Shagory, served as Chairman of the Board from May 2007 to September 2009 and continues to serve on the Company’s Board.
“BVP provided valuable Board leadership during Accuri’s formative phase,” said Jeff Williams, Accuri CEO. “Their active role in working with management and supporting our fundraising efforts was instrumental to Accuri’s success.”
The announced sale of Accuri underscores Baird Private Equity’s ongoing success in the healthcare and life sciences sector, and is the group’s third announced healthcare exit of the year. Earlier this year, Baird Private Equity completed the sale of BVP portfolio company Interlace Medical to Hologic. Baird Private Equity also recently announced a definitive agreement to sell Campbell Alliance, a portfolio company of US-based buyout fund Baird Capital Partners, to inVentiv Health.
About Baird Venture Partners
Baird Venture Partners, the U.S.-based venture capital fund of Baird Private Equity, makes venture capital investments in early and expansion stage business services and life sciences companies. Baird Venture Partners leverages its in-depth sector knowledge, experienced investment team and network of relationships to serve as a value-added partner for its portfolio companies. For more information, please visit bairdventurepartners.com.
Baird Private Equity, the global private equity group of Robert W. Baird & Co. (Baird), makes venture capital, growth equity and buyout investments in smaller, high potential companies in the United States through Baird Venture Partners and Baird Capital Partners, in China through Baird Capital Partners Asia, and in Europe through Baird Capital Partners Europe. Baird Private Equity has a global team of investment and operations professionals in nine offices across the United States, Europe and Asia, including a team of operating professionals in Asia. Baird Private Equity and its affiliates have raised and managed over $2.7 billion in capital and invested in more than 240 companies since the 1980s. For more information, please visit bairdprivateequity.com.