Pennington Allen Capital Partners, LLC today announced the acquisition of majority ownership interest of Knox Laboratory, LLC, a privately held drug testing company based in Tulsa.
Financial terms of the transaction were not disclosed.
In recent years, Knox Laboratory has expanded to add occupational health services and has grown to be one of the largest occupational testing laboratories in Northeast Oklahoma with its home office in Tulsa and a satellite office located in Bartlesville. S. Christopher Lopp and his wife Jennifer G. Lopp, the previous owners of Knox, will remain members of the management team as well as retain partial ownership equity in the company.
Pennington Allen Capital Partners is a private investment firm focused on the acquisition of manufacturing, distributing and business service companies and providing private equity to fund growth and other transformational needs of its business partners. The firm couples its capital resources with strategic and operational advisory services. Pennington Allen was formed in 2003 in Dallas, TX under the name of Whiterock Affiliates and now maintains its headquarters in Tulsa.