Ampersand Capital Partners has announced it has sold portfolio company Adaptas Solutions to IMI.
Adaptas, based in Palmer, Mass., provides components for complex laboratory instruments in the life sciences, diagnostics and lab automation markets.
IMI, formerly Imperial Metal Industries, is a British-based engineering company that designs, manufactures and services engineered products that control the movement of fluids.
Ampersand, based in Wellesley, Mass., is a middle market private equity firm with a focus on growth equity investments in the healthcare sector. Founded in 1988, the firm typically pursues majority or minority positions in companies generating between $10 million and $100 million in revenue.
Terms of the transaction were not disclosed.