LP First Capital and Genesis Park Acquire Fastest Labs

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Apr 18, 2023, 12:53 ET

SAN ANTONIO, April 18, 2023 /PRNewswire/ -- Fastest Labs, a leading nationwide provider of drug, alcohol, and DNA testing services based in San Antonio, today announced its acquisition by LP First Capital and Genesis Park. This partnership will provide Fastest Labs with the resources and support necessary to accelerate growth, expand its footprint, and enhance the company's overall offerings to customers and franchisees.

Fastest Labs, founded by Dave Claflin, has been a leader in the drug, alcohol, and DNA testing industry, delivering fast, reliable, and accurate testing solutions to clients across the United States. The company's cutting-edge technology and commitment to exceptional customer service have made it the go-to choice for both individuals and organizations seeking testing services.

As the first franchisor to be acquired as part of a broader business services portfolio of brands, Fastest Labs sets the stage for further expansion and collaboration among businesses within this rapidly evolving sector.

LP First Capital, a business services focused private equity firm, specializes in partnering with family-owned, founder-led businesses to help them achieve their full potential by providing capital, operational expertise, and strategic guidance. Genesis Park is a Houston-based investment firm that provides flexible debt and equity capital solutions to lower middle market businesses across various sectors.

Thomas Ince, Managing Director and Founder of LP First Capital, expressed enthusiasm for the acquisition, stating, "Fastest Labs has shown tremendous potential and is a perfect fit for our business services platform. We are excited to work closely with Dave Claflin and his team to expand the company's reach and enhance its offerings to better serve the needs of our customers."

Gina Luna, Managing Partner of Genesis Park said, "Dave and his team have built an impressive business with a reputation for providing the most efficient and highest quality testing services. We are excited to partner with LP First Capital and the management team to support Fastest Labs through its next phase of growth."

Dave Claflin, founder of Fastest Labs, also shared his optimism about the partnership, saying, "We are thrilled to join forces with LP First Capital and Genesis Park. Their focus on family-owned, founder-led businesses and commitment to supporting our growth in the business services sector will enable Fastest Labs to continue delivering the highest quality testing services and strengthening our position as a leader in the industry."

The acquisition of Fastest Labs by LP First Capital and Genesis Park marks a significant milestone for all parties involved, as they work together to create a robust business services platform. This collaboration will undoubtedly foster continued success for Fastest Labs and its franchisees, and the partnership's shared vision for growth and innovation will shape the future of the drug, alcohol, and DNA testing industry.

For more information about Fastest Labs, visit www.fastestlabs.com.

To learn more about LP First Capital and Genesis Park, visit www.lpfirstcapital.com and www.genesis-park.com, respectively.

About Fastest Labs
Fastest Labs is a premier nationwide provider of drug, alcohol, and DNA testing services, offering fast and accurate results for individuals, businesses, and government agencies. Based in San Antonio, with a focus on exceptional customer service and state-of-the-art technology, Fastest Labs has earned a reputation as a trusted leader in the testing industry. The company's franchise network spans across the United States, delivering reliable and convenient testing solutions to clients nationwide.

About LP First Capital
LP First Capital is a business services focused private equity firm that specializes in partnering with family-owned, founder-led businesses to help them achieve their full potential. By providing capital, operational expertise, and strategic guidance, LP First Capital helps provide the support and tools needed to grow and develop its portfolio companies. The firm's experienced team of industry professionals is dedicated to driving value and generating superior returns for all stakeholders.

About Genesis Park
Genesis Park is a Houston-based private credit and equity investment firm. Its current investment fund, GP Capital Partners, LP, is licensed as a Small Business Investment Company ("SBIC") by the U.S. Small Business Administration. Genesis Park supports growth and later stage lower middle market businesses through flexible debt and equity capital solutions and strategic guidance. Genesis Park generally targets companies with at least $10 million of revenue and $2 million of EBITDA, with proven business models and seasoned management teams. Managed by four experienced investment professionals with broad regional relationships, Genesis Park is committed to partnering with the companies and management teams in which it invests to facilitate growth, transition, and success. For more information, visit www.genesis-park.com.

Boxwood Partners served as the exclusive financial advisor to Fastest Labs

FOR MORE INFORMATION:

LP First Capital
Joe Denham, Managing Director, [email protected]

SOURCE LP First Capital