December 2011 -MAINE, USA
ANANIA & Associates Investment Company LLC (“AAI”), with its newest investors, CEO Paul Rogers and COO Scott Folsom, completed the purchase of The Science Source (“Science”) based in Waldoboro, Maine, a developer and manufacturer of science and technology educational products. Former owner Rudolf Graf, also known to some as Mr. Science, will stay on for a period of time as an industry consultant.
The Science Source manufactures products for use in teaching physics, physical
science, biology, chemistry, environmental science, health, and design technology. These products are used in K-12 classrooms across the US, as well as in college and university laboratories. The company supports numerous science and technology curricula with their products used to meet many of the state/national science and technology standards.
“Rudy Graf assembled an impressive suite of products and is very well known within the science education market niche”, commented Peter V. Anania, Chairman of AAI.
“Currently, the company is well positioned nationally, but has yet to make significant inroads to the European market. This is one area in which we can bring value by helping to open those market channels through our Anania Europe UG sales and marketing company, in Heidelberg, Germany.”
“I was very intent on keeping the company in Maine so the fine group of workers we cultivated over the years would be able to stay gainfully employed in their local area”, said former owner Rudolf Graf.
“Anania & Associates Investment provided those Maine roots. They also have significant operating experience and the know how to continue to grow the company. All of these were important aspects in my decision making process when selling the company, which the employees and I worked hard to build over the past 25 years.”
“This acquisition is the 9th manufacturing company in our portfolio. We continue to be excited about the build out of the portfolio, which has very respectable performance given the integration challenges we faced bringing in six new acquisitions over the last 2 years.….” Anania continued, “We continue to be very positive about the growth potential for the portfolio in 2012.
Additionally, we now have approximately 150 employees whose overall work ethic, dedication and loyalty, continues to be superb. Our continued growth will in turn, lead to the creation of many more, good paying, quality, jobs for Maine people.