Microfluidics Completes Two Acquisitions
Microfluidics International Corp. said it completed its acquisition of Fullerton-based Morehouse-Cowles Inc. and Epworth Manufacturing Co. of South Haven, Mich. for cash, assumption of selected liabilities, common shares and other debt. Further financial terms weren’t disclosed.
Microfluidics said the two companies had combined 1997 revenues of $11.7 million. The two companies will operate as separate units and their facilities will remain in their current locations.
J.B. Jennings, former owner of Morehouse-Cowles, was named president of the Morehouse unit and becomes a director of Microfluidics’ board.
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