Eagle Partners represented International BioProducts, a Seattle-based company that manufactures and distributes products used to test for food safety in the microbiology laboratories of food products manufacturers. These disposable products are used to collect samples and test for microorganisms that could provide a health risk to consumers. After a thorough process that involved discussions with a variety of strategic buyer as well as financial buyers, IBP agreed to an acquisition proposal from Biotrace International, a U.K.-based, publicly traded company that manufactures proprietary tests used in the food safety industry. The transaction will provide enhanced distribution of Biotrace products in the U.S. and broaden the combined companies’ geographic scope and product line. The consideration was a combination of cash and stock in Biotrace which trades on the London Stock Exchange.
