UAS Laboratories Acquisition, Valuation, Funding & Investors

UAS Laboratories was acquired by Chr. Hansen for $530M in June 2020, a 6.2x multiple on $85M of revenue.

UAS Laboratories acquisition price

$530M

Acquired by Chr. Hansen · Jun 2020

UAS Laboratories revenue at acquisition

$85M

Last twelve months · Jun 2020

UAS Laboratories revenue multiple at acquisition

6.2x

EV/Revenue · Jun 2020

UAS Laboratories EBITDA multiple at acquisition

17.7x

EV/EBITDA · Jun 2020

UAS Laboratories Overview

About UAS Laboratories

UAS Laboratories is a probiotic manufacturer specializing in formulations based on L. acidophilus DDS-1 strain. The company produces supplements for natural products retailers, health professionals, private labels, and ingredient suppliers in the US, Canada, and over 35 countries. Fully integrated operations handle formulation, manufacturing, packaging, and marketing under strict quality standards. Founded in 1979 and based in Madison, Wisconsin, UAS invests in research and production technologies for probiotic innovation.


Founded

1979

HQ

United StatesWausau, WI

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Revenue

$85M (Feb 2019)

Valuation

$530M (Feb 2019)

UAS Laboratories Acquisition

UAS Laboratories was acquired by Chr. Hansen for $530M on 9 June 2020.

The acquisition price implies a 6.2x revenue and 17.7x EBITDA multiple on $85M of revenue.

Before the acquisition UAS Laboratories had raised $45M across 3 funding rounds.

UAS Laboratories is a Wisconsin-based vertically integrated biotechnology company specializing in the development, manufacturing, and marketing of probiotic cultures and finished probiotic products. Founded in 1979 and owned by Lakeview Equity Partners since 2013, the company operates two GMP-certified manufacturing facilities in Madison and Wausau, Wisconsin, with 230 employees. The company produces differentiated multi-species probiotic blends and has built a strong reputation for scientific rigor and global distribution. Chr. Hansen, a leading Danish bioscience company headquartered in Hørsholm with over €1 billion in annual revenues, acquired UAS Laboratories for $530 million in an all-cash transaction announced in June 2020 and closed in July 2020. The acquisition was strategic for Chr. Hansen, expanding its global microbial platform and human health business by moving into multi-species probiotics, broadening its customer base, and establishing a stronger U.S. manufacturing footprint. The transaction was expected to be EBITDA accretive by 2021 and EBIT neutral to slightly accretive by 2024-2025. UAS Laboratories was projected to generate approximately $85 million in revenue and over $30 million in EBITDA in 2020 before synergies, implying an EV/EBITDA multiple of approximately 17.7x. The deal reflected Chr. Hansen's stated strategy of pursuing bolt-on acquisitions within its core microbial science platform, with both companies sharing a commitment to scientific excellence and complementary product portfolios.

UAS Laboratories acquisition details
AcquirerDateTypePriceEV/RevenueEV/EBITDA
  • Chr. Hansen
9 Jun 2020Strategic M&A$530M6.2x17.7x

UAS Laboratories Valuation

UAS Laboratories is currently valued at $530M, based on its seed round in February 2019.

UAS Laboratories valuation by funding round

UAS Laboratories valuation by funding round
DateStageValuationRevenue Multiple
Feb 2019Seed$530M6.2x

UAS Laboratories Revenue

UAS Laboratories' latest recorded revenue is $85M, as of its seed round in February 2019. At a $530M valuation, that implies a 6.2x revenue multiple.

UAS Laboratories revenue by funding round

UAS Laboratories revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Feb 2019$85M$530M6.2xSeed

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

UAS Laboratories Funding History

UAS Laboratories has raised a total of $45M across 3 funding rounds.

UAS Laboratories' first fundraising round was a $21M undisclosed-stage round in February 2017. The most recent completed round was a $3M seed round in February 2019.

UAS Laboratories funding rounds

UAS Laboratories funding rounds
DateStageRaisedValuationDeal Summary
Feb 2019Seed$3M$530MUAS Laboratories LLC is a manufacturer of probiotic nutritional supplements, operating with 230 employees and selling products in the U.S., Canada, and over 60 other countries. The company was acquired by Chr. Hansen from Lakeview Equity Partners, the management team, and other shareholders. Previously, in April 2013, Lakeview Equity Partners along with industry veterans acquired UAS Laboratories with $6 million subordinated debt and equity from Greyrock. The acquisition closed with a transaction value net of tax assets of USD 530 million, financed via a low-interest bridge facility from core banks, pending U.S. regulatory review expected within 1-3 months from the June 2020 announcement. UAS Laboratories was projected to generate revenues of USD 85 million and EBITDA above USD 30 million in 2020 before synergies. The deal aligned with Chr. Hansen’s capital allocation, maintaining their 2019/20 outlook with minor EBIT impact based on closing timing and minor EBITDA accretion in 2020/21. Leadership under founder Dr. S.K. Dash and executives positioned UAS Laboratories for growth in the global probiotics industry, integrating into Chr. Hansen’s microbial platform to enhance probiotic production flexibility.
Jan 2019Undisclosed stage$22M-UAS Laboratories is a pioneer in the research, development, and manufacture of probiotic nutritional supplements, founded in 1979 by Dr. S.K. Dash, who serves as chairman, founder, and director of new business development. The company manufactures and markets probiotics in the U.S., Canada, and over 60 other countries worldwide. The company employs 201-500 people and operates from uaslabs.com. In April 2013, Greyrock provided $6.0 million of subordinated debt and equity to support Lakeview Equity Partners LLC and industry veterans Kevin Mehring and Dr. Greg Leyers’ acquisition of UAS Laboratories.
Feb 2017Undisclosed stage$21M--

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Acquisitions by UAS Laboratories

UAS Laboratories has acquired 1 company to date.

Last acquisition by UAS Laboratories was on December 3rd 2014. UAS Laboratories acquired Micropharma for undisclosed valuation.


Latest Acquisitions by UAS Laboratories

Micropharma
Description
Micropharma is a biotherapeutics company developing probiotics and enzymes for metabolic diseases. Headquartered in Mississauga, Ontario, the firm employs its ProSelect platform to identify bacteria targeting pathways for obesity, diabetes, and gut health. Micropharma optimizes strains through proprietary fermentation techniques, advancing candidates from discovery to clinical stages for oral therapeutics.
HQ CountryCanada
HQ City
Montreal
Deal Date3 Dec 2014
Valuationundisclosed
EV/Revenue
EV/EBITDA

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UAS Laboratories Competitors

UAS Laboratories competitors include listed companies like Jamieson Wellness, Hyundai Bioland Co, Balchem and BioRegenx, and private ones like Elysium and BioMimetic Laboratories.

Public and private companies comparable to UAS Laboratories
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Jamieson WellnessCanadaCanadaPublicly listed$589M$95M$1.4B2.6x
ElysiumUnited StatesNew York City, NYPrivate--$157M-
Hyundai Bioland CoSouth KoreaSouth KoreaPublicly listed$95M$12M$88M-
BalchemUnited StatesUnited StatesPublicly listed$1B$255M$5.3B4.9x
BioMimetic LaboratoriesUnited StatesNew York City, NYPrivate--$28M-
BioRegenxUnited StatesUnited StatesPublicly listed$2M($1M)$7M-

UAS Laboratories Public Comps

UAS Laboratories is no longer listed, but its public comps include Scitop Bio-tech, Sido Muncul, Top Gum, Zhejiang Shouxiangu, Grape King Bio, Biogena Good Vibes, Genomma Lab, Tempo Scan Pacific, Medy-Tox and Aarti Pharmalabs.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Scitop Bio-tech$55M$18M8.4x-26.1x-
Sido Muncul$230M$94M2.4x2.6x5.9x7.3x
Top Gum$101M($8M)5.0x-(59.9x)-
Zhejiang Shouxiangu$95M$30M3.7x3.8x11.7x-
Grape King Bio$322M$88M1.0x1.0x3.8x3.9x
Biogena Good Vibes------
Genomma Lab$1B$203M1.0x1.0x5.0x4.2x
Tempo Scan Pacific$790M$111M0.6x-4.5x-

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Common questions about UAS Laboratories

When was UAS Laboratories founded?UAS Laboratories was founded in 1979.
Where is UAS Laboratories headquartered?UAS Laboratories is headquartered in Wausau, WI, United States.
Is UAS Laboratories publicly listed?No, UAS Laboratories was acquired by Chr. Hansen in June 2020.
Who acquired UAS Laboratories?UAS Laboratories was acquired by Chr. Hansen in June 2020.
How much was UAS Laboratories acquired for?UAS Laboratories was acquired for $530M in June 2020, a 6.2x revenue multiple.
What is UAS Laboratories' valuation?UAS Laboratories was last valued at $530M in its seed round in February 2019.
How much funding has UAS Laboratories raised?UAS Laboratories has raised $45M across 3 funding rounds.
What was UAS Laboratories' last funding round?UAS Laboratories' last funding round was a $3M seed round in February 2019.
What is UAS Laboratories' revenue?UAS Laboratories' latest recorded revenue is $85M (February 2019).
What is UAS Laboratories' revenue multiple?UAS Laboratories' latest valuation implies a 6.2x revenue multiple ($530M valuation on $85M of revenue).
Which companies are comparable to UAS Laboratories?Companies comparable to UAS Laboratories include Jamieson Wellness, Elysium, Hyundai Bioland Co, Balchem, BioMimetic Laboratories and BioRegenx.
How many companies has UAS Laboratories acquired?UAS Laboratories has acquired 1 company, including Micropharma.

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