Exclusive financial advisor to Cherney Microbiological Services, Ltd.
KPMG Corporate Finance LLC acted as exclusive financial advisor to Cherney Microbiological Services, Ltd.
KPMG Corporate Finance LLC is pleased to announce the sale of Cherney Microbiological Services, Ltd. (Cherney or the Company) to Matrix Sciences International Inc. (Matrix Sciences).
Headquartered in Green Bay, Wisconsin, Cherney is a provider of value-added, regulatory- and compliance-driven microbiological and analytical testing, proficiency programs, and related services for the food industry. The Company serves as a critical partner to help customers ensure product quality, safety, and compliance via world-class laboratory capabilities, scientific expertise, and customer service excellence.
The acquisition completes a second major investment by Matrix Sciences in the state of Wisconsin to further expand and support food companies in providing analytical and advisory services. Matrix Sciences’ network in the area includes two laboratories in Green Bay, Wisconsin, one in Baraboo, Wisconsin, and its largest laboratory in Mount Prospect, Illinois. These laboratories are supported by a fleet of 32 dedicated vehicles to provide convenient service to a regional customer base that spans Wisconsin, Illinois, Indiana, Minnesota, and Iowa.
Robert Wiebe, CEO of Matrix Sciences, commented “We are excited to have the Cherney team join us as an integral part of Matrix. Together, we offer food manufacturers a level of service and expertise that is unmatched in the region.”
We were very deliberate in choosing the right next step for our team. Matrix was simply the best choice,” said Steve Kuchenberg, CEO of Cherney Microbiological Services. “We were looking for a good fit for our people, for similar values and a shared focus on investing in customer relationships. We found that in Matrix, and we are excited about the future.”
Steve Kuchenberg commented on the transaction “KPMG proved to be an extremely valuable asset throughout the process of finding the right partner for Cherney. Their knowledge, experience, and expertise on deal execution allowed us to keep the focus on the needs of the business and our customers. Great partners like KPMG really made this process a pleasant and successful one.”
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