Woodbridge Closes Sale of WETLabs Inc.
February 2, 2010
Woodbridge is pleased to announce the sale of
its client, WETLabs, Inc. to an undisclosed strategic buyer.
WETLabs is an Oregon-based manufacturer of underwater instrumentation products that measure optical properties of water in oceans, lakes and streams. WETLabs operations will remain in Philomath, Oregon.
“We are happy with the deal we were able to negotiate for our client, which included a mix of upfront compensation and future payments that will allow the two major owners to realize their goals going forward,” said Ney Grant, senior dealmaker on the transaction.
WETLabs’ wide range of optical measurement products are used by a variety of governmental agencies and commercial users to measure and understand aqueous environments across the globe. The need to understand the earth’s water environments is increasingly important in this era of environmental degradation and climate change. As part of a larger company WETLabs expects to accelerate the implementation of its mission.
Woodbridge, LLC., an international M&A firm, was founded in 1993 to provide divestiture and acquisition services to middle market companies.