Los Angeles private equity firm Levine Leichtman Capital Partners has acquired Genova Diagnostics Inc.
Asheville, N.C.-based Genova Diagnostics is a specialty clinical laboratory that provides testing for personalized diagnosis, treatment and disease prevention. Genova’s management has retained a stake in the company. Terms of the investment were not disclosed.
The investment is Levine’s second from its Levine Leichtman Capital Partners V LP fund. In August the firm invested in Sferra Fine Linens, a company produces luxury linen products. Levine’s portfolio companies include Angel Management Group, Global Franchise Group and Law Doctor Inc.
Genova was sold by private equity firms Nautic Partners LLC and Ferrer Freeman & Co. LLC.
Lazard Middle Market advised Genova. Financing was provided by BMO Capital Markets as administrative agent, CIT Finance LLC as syndication agent, and MidCap Financial LLC, Siemans Financial Services Inc., RBS Citizens NA and NXT Capital LLC.