ATS Scientific Inc. Announces the Acquisition of Folio Instruments Inc.

May 10, 2024

BURLINGTON, ON, Nov. 8, 2022 /CNW/ - ATS Scientific Inc. ("ATS Scientific" or "the Company"), one of Canada's largest independent providers of scientific equipment and service, is pleased to announce that it has acquired Folio Instruments Inc. ("Folio"), a Kitchener-ON based distributor of scientific equipment and service provider.

Co-founded by Gord Howes and Rhett Barriere over 30 years ago, Folio has been an integral part of the industry addressing the growing demand for laboratory equipment in Canada. Folio has a particularly strong presence in the petroleum, energy, environmental and heavy industrial industries, highly complementary to ATS' offerings. With a product portfolio consisting of market-leading manufacturers such as PAC LP, SEAL Analytical Inc., Hitachi High-Tech Analytical Science, Konica Minolta, and many others, the addition of Folio will keep ATS Scientific at the forefront of the scientific community.

"We are all excited to join ATS Scientific's growing national team. Right away, we knew there was a fit, as their like-minded focus on putting customers first and delivering superior solutions really resonated with us" commented Folio's Co-Founder and President, Gord Howes, who will continue to be an integral part of the Company. Rhett Barriere will continue on as a Technical Consultant and added "we look forward to helping accelerate the Company's growth and further strengthening its presence coast-to-coast".

ATS Scientific will continue to be led by CEO Aleks Sobot and VP, Sales Gilles Groulx with critical support from the company's equity investor Sage Capital Partners. On the acquisition, CEO Aleks Sobot commented, "The acquisition of Folio represents the ongoing execution of our growth strategy, significantly enhancing our presence in very favourable end markets. Folio has a sterling reputation known across Canada and deepens our resources significantly. I am thrilled to welcome the Folio staff to our growing team at ATS Scientific."

Integration has already begun with planned cross-training across all product lines, which will provide an enhanced level of support for current and future customers. Folio will continue to operate out of its Kitchener facility and will maintain its name, website, and e-commerce store.

About ATS Scientific

ATS Scientific Inc was founded in 1989 by Alex Heino as a small service organization and has evolved into a highly respected sales and service organization serving the Canadian laboratory marketplace with a comprehensive product and service portfolio. The company has been successful in creating a team of dedicated professional staff, who are by far its greatest asset, as well as long term relationships with valued customers and suppliers who have been fundamental to the company's success. Learn more at www.ats-scientific.com.

About Folio Instruments

Folio Instruments has been one of Canada's leading suppliers of scientific instruments since 1989. Originally a modest basement operation, Folio expanded to a national company with a physical presence in Kitchener, Ontario, Calgary, Alberta, and Montreal, Quebec. The company's focus has always remained steadfast in laboratory analytical instrumentation, developing a deep knowledge of our equipment and methods. The guiding principle of operation is "say what you do and do what you say". The Folio commitment is to always stand behind its instrumentation and its performance. Learn more at www.folioinstruments.com.

About Sage Capital Partners

Based in Toronto, Ontario, Sage Capital Partners is the first institutional fund focused on search fund investing in Canada. Sage supports both traditional searchers and non-traditional/self-funded entrepreneurs in their quest to acquire and grow companies in the lower mid-market. Sage has extensive experience in a wide variety of businesses and industries and continues to actively pursue control and minority investment opportunities. Learn more at www.sagecapfund.com.

SOURCE ATS Scientific

For further information: Aleksandar Sobot, asobot@ats-scientific.com