WELLESLEY HILLS, Mass.--(BUSINESS WIRE)--Boston based, Kamylon Capital, has sold its ownership interest in Innovadex, LLC, to Underwriters Laboratories. Innovadex is a B2B business information services company that offers a specialized search and document retrieval capability to assist product developers and formulators in identifying the best materials and suppliers to streamline product development and to accelerate innovation for the chemicals and life sciences industries.
“We have enjoyed an outstanding partnership with the company, Bruce and Jim specifically, and are pleased they found a great partner in Underwriters Laboratories for the next stage of the company’s evolution.”
Kamylon invested in Innovadex in 2007 to build upon the company’s technological competitive advantages and to enter new market segments. Notably during the investment period, the company successfully entered three entirely new markets, created a powerful mobile sales support application, and introduced a revolutionary “electronic tradeshow” service that enables trade show participants to catalog and distribute marketing and technical documents electronically within Innovadex’ proprietary search platform.
“We are grateful to Bruce Ianni, Jim Dodd and the rest of the Innovadex management team for what they were able to accomplish,” commented Charles Lelon , Managing Partner of Kamylon Capital. “We have enjoyed an outstanding partnership with the company, Bruce and Jim specifically, and are pleased they found a great partner in Underwriters Laboratories for the next stage of the company’s evolution.”
“We were fortunate to have Kamylon as our business partner,” said Bruce Ianni, CEO and founder of Innovadex. “In particular, the Kamylon team imbued the needed discipline, metrics, and strategy to help Innovadex grow and achieve a successful exit.”
The transaction closed on December 31, 2012.
Kamylon Capital is a private, principal investing firm making control equity investments in lower middle market businesses. By taking a hands-on, operational approach with its companies, Kamylon and its in-house group of Management Partners are able to help mitigate risk, drive growth and implement positive change to strengthen the companies in which it invests and generate attractive returns for investors through a proprietary process Kamylon calls “managerial investing”. For more information, visit Kamylon’s website at http://www.kamylon.com.
Underwriters Laboratories (“UL”) UL is a premier global independent safety science company with more than 118 years of history. Employing more than 10,000 professionals in over 100 countries, UL has five distinct business units -- Product Safety, Environment, Life & Health, Knowledge Services, and Verification Services – to meet the expanding needs of our customers and to deliver on our public safety mission. Additional information about UL may be found at UL.com.