IV Labs Inc, the parent company of Inorganic Ventures, has acquired PURE Analytical Laboratories in a move to produce materials with higher purities than currently available and to create new, high-purity materials for emerging applications from semiconductors and computing to pharmaceuticals and diagnostic equipment.
PURE, of Feasterville, Pennsylvania, is one of the few companies that produces ultra-high purity formulations of most of the metals on the periodic table. Inorganic Ventures manufactures Certified Reference Materials (CRMs), which are used to calibrate the laboratory equipment chemists use to test products. PURE produces ultra-high purity starting materials, while Inorganic Ventures uses the materials to formulate precise custom standards and produce precision custom materials.
The combined expertise and resources will bolster IV Labs’ research and development program focused on developing new ultra-high purity products for emerging technologies and for reducing processing requirements for a wide range of existing markets. “New materials and higher purities are critical to the electronics industry as it moves toward increasingly complex semiconductor and related technologies,” said Chris Gaines, CEO of IV Labs and Inorganic Ventures. “This is where the IV/PURE team can excel.”
The acquisition will also ensure that IV Labs’ spinoff venture, MERGE Chemistry, has a reliable, domestic source of precious metals and rare earth elements that play a critical role in the supply chain of current and next generation battery technologies.
Terms of the transaction were not disclosed; both firms are privately held.
Effective today, PURE will continue to operate from its existing headquarters in Feasterville, Pennsylvania, and continue to serve its customers worldwide as a subsidiary of IV Labs, of Christiansburg, Virginia.
All 100+ employees of both Inorganic Ventures and PURE Analytical Laboratories will be retained at their current locations.
Benefits of the transaction include:
- Deeper technical expertise.
- Seamless customer services.
- Development of next-generation materials for emerging technologies.
- Ability to produce new, previously unseen, purity levels on starter products.
- Improved instrumentation capabilities and lower detection limits, thanks to cleaner CRMs.
Gaines will lead the combined company. Erik Miller, founder and CEO of PURE, will become chief strategy officer of the expanded IV Labs family of companies and retain part ownership of PURE.
“We are very excited to welcome the PURE team to the family and look forward to working together to support emerging technologies and the growing critical needs for high-purity materials,” Gaines explained. “Erik’s team are experts in high-purity materials: both sourcing and cleaning them. It’s a huge niche expertise.”
Miller is looking forward to working more closely with IV Labs. “It’s a team I trust, with a shared vision and similar corporate culture,” he said. “Now, we are in the position of holding proprietary technology in a sector that grows more critical as material needs grow more precise. Our joining IV positions us to continue to improve our products as industry needs change and to pursue some big opportunities in emerging technologies. There has never been a time like this.”