Evergreen Advisors Capital, a middle-market investment bank in Columbia, has announced that PathSensors has been acquired by Smiths Detection. Evergreen Advisors Capital acted as the exclusive financial advisor to PathSensors with legal advice provided by Whiteford, Taylor & Preston, which also has an office in Columbia.
PathSensors is a biotechnology solutions and environmental testing company based in Baltimore that provides high-speed, high-sensitivity pathogen detection and threat prevention solutions. PathSensors’ solutions can detect a wide range of threats, including anthrax, ricin, Ebola, salmonella, Phytophthora, Ralstonia and many more.
The company’s technology supports a growing library of threat detection capabilities and can be expanded to meet emerging and specific threat detection requirements. PathSensors shares a similar customer base to that which Smiths Detection serves for chemical-threat detection, while also offering an expanded end-use market into adjacent security markets, such as food and agricultural safety.
“PathSensors is a company with an established history of developing biological-threat detection devices with our proprietary CANARY technology,” said Ted Olsen, PathSensors president and CEO. “We are looking forward to becoming the Smiths Detection Center of Biotechnology excellence,” Which is to be based in Baltimore.