The DAK Group, a leading investment bank specializing in middle-market mergers and acquisitions worldwide, announces the sale of its client Harrison Research Laboratories, Inc. (HRL) headquartered in Union to SGS North America Inc. the world’s leading inspection, verification, testing and certification company headquartered in Geneva, Switzerland. The DAK Group served as the exclusive investment banker and financial advisor to Harrison Research Laboratories initiating and managing the divestiture process.
The transaction capitalizes on Harrison’s outstanding reputation as a leading independent research company to the cosmetics, beauty and over the counter pharmaceutical industries. A women owned-family business founded in 1981, HRL has operated with the same mission: to provide the highest quality research and accuracy available while exceeding customer’s expectations on delivery times.
Founder Dr. Lynne B. Harrison, and her daughter Debra Harrison have provided SGS with a comprehensive business to expand its footprint in the multibillion dollar US research and testing industry.
“Harrison Research Lab’s founder has been able to monetize the exceptional business she has built, while gaining a strategic partner to help accelerate their industry leadership position.” stated Alan Scharfstein, President of The DAK Group.
This acquisition expands SGS’s Consumer & Retail service portfolio into the clinical testing sector for cosmetic and personal care products in the USA,” said Frankie Ng, CEO of SGS. “It is an excellent complement to our existing laboratory testing capability in New Jersey.” The DAK Group team included Alan Scharfstein, President, Michael Richmond, Managing Director and Claudia Levine, Associate.