LI-COR Environmental Acquires Onset®, HOBO Data Loggers

Mirus Capital Advisors, Inc., one of the largest independent middle-market investment banking firms in New England, is pleased to announce that it has advised Onset Computer Corporation (“ONSET”), a leader in large-scale, spatially-distributed environmental monitoring and water resource management, on its acquisition by LI-COR Environmental (“LI-COR”), the global leader in greenhouse gas measurements.

Based in Bourne, Massachusetts, and founded in 1981, ONSET offers reliable, rugged, and accurate data logger and monitoring solutions that improve the environment and ensure the quality of temperature-sensitive products. ONSET’s catalogue of data loggers and monitoring systems, sold under the HOBO® and InTemp® brands, measure water and air temperature, relative humidity, water levels, soil moisture and more. The company’s products can be used indoor, outdoor, and underwater, in support of a broad range of monitoring applications, including climate, ecology, wetland, water quality, HVAC/R, museum and preservation, agricultural research, and crop production.

LI-COR, backed by global investment firm Battery Ventures, will use this acquisition to expand its greenhouse gas portfolio to include sensor networks, data acquisition, and cloud-based data monitoring. “Historically the work of researchers, greenhouse gas measurements have become interesting for companies around the world who need to understand their emissions or validate their ability to sequester carbon,” said Tom Reslewic, CEO at LI-COR, in a company statement. “The addition of ONSET to LI-COR Environmental will help us meet this growing need, not only for measuring greenhouse gases, but also for more comprehensive environmental monitoring.”

“The Mirus team members were instrumental in our achieving an exceptional outcome in the sale of ONSET,” said Jim Towey, CEO of ONSET. “After more than 40 years as a pioneering, independent company, we had decided we needed to find a buyer to take the company to the next stage. We wanted a financial advisor who understood our industry and could drive a process to find the right buyer – one that appreciated the value of what we had built, even while we were in the midst of transforming the company to position it for future growth. The Mirus team understood and were passionate about our business and were instrumental in the positioning of ONSET with buyers. They were detailed in preparing us for the sale, and while it was an exhaustive process, they remained positive and constructive throughout the challenging moments and didn’t stop working for us until we successfully closed. They were dedicated partners and exceeded our expectations,” he concluded.

About ONSET
Based on Cape Cod, Massachusetts, ONSET has been designing and manufacturing its data loggers and monitoring solutions on site since the company’s founding in 1981. Our award-winning HOBO® data loggers and weather stations are used around the world in a broad range of applications, from water and coastal research to indoor and outdoor environmental monitoring. Our InTemp® loggers dramatically simplify the process of monitoring temperature-controlled pharmaceutical products throughout the cold chain. Visit ONSET on the web at www.onsetcomp.com.

About LI-COR Environmental
LI-COR Environmental is the global leader in greenhouse gas measurements. We build the instruments and software that measure greenhouse gases and water in plants, soil, oceans, and the atmosphere. For more than 50 years, our team of scientists and engineers has provided innovative answers to global research questions. Get more information on our products at www.licor.com/env.

About Mirus Capital Advisors, Inc.
Successful business owners have turned to Mirus Capital Advisors for more than 35 years to help them realize their ultimate accomplishment – the sale of their business. As a mid-market investment bank focused on mergers and acquisitions, Mirus drives successful deals for companies in the business services, technology, industrial, consumer products, and healthcare sectors. Mirus has proven time and again that its deep industry expertise, focus on relationships, thorough preparation, and unwavering commitment to every deal lead to meaningful accomplishments for business owners. For more, visit www.merger.com