Twin Bridge Invests in VION Biosciences

January 23, 2025 - Iron Path Capital, a private equity firm focused on healthcare and specialty industrials, is pleased to announce its partnership with Aldon Corporation, a leading private-label manufacturer and distributor to the healthcare, life science and STEM education end markets. Aldon will serve as the first investment under VION Biosciences LLC, Iron Path Capital's go-forward roll-up platform in the life science sector that will be led by life science industry veteran and former Avantor executive, Mark Thornton.

Aldon is a producer of specialty, private-label lab chemicals and chemical contract manufacturing solutions in life science applications, including blending and repackaging capabilities and kitting solutions for healthcare and STEM education systems. Aldon's unique positioning in the marketplace and relationships with sector industry titans make it an attractive first acquisition for the broader Iron Path Capital platform.

VION Biosciences is positioned to become a leading life science company providing both manufacturing and mission-critical chemicals and specialty reagents alongside value-added services, which enable scientific discovery, clinical testing, therapeutic development, and innovative solutions across a wide platform of key applications from research to commercialization. VION Biosciences is focused on expanding its domestic and global presence to build a leading specialty chemicals platform with a focus in the biopharmaceuticals and molecular diagnostics end markets through continued organic growth and via its well-developed acquisition strategy.

Scott Mraz, a founding partner of Iron Path Capital, commented, "The creation of VION Biosciences marks Iron Path's second platform investment in the specialty chemicals and life science sectors. We are excited to partner with Mark and believe the acquisition of Aldon is an important first step in VION's growth strategy."

Aldon is a leading producer of private-label lab chemicals in the Northeast, servicing its diversified customer base for over 50 years. As a leading specialty input manufacturer and producer, Aldon will serve as the cornerstone and foundation for VION Biosciences' acquisition and growth strategy in the biochemical sector. VION Biosciences plans to continue its accelerated growth strategy by focusing on its global consolidation angle and reputation in key industry end markets supported by unparalleled customer relationships and service.

Alex Molinich, President of Aldon commented, "I look forward to continuing to drive Aldon forward as part of the VION Biosciences Executive team. This collaboration will allow us to diversify into markets we have not reached until now, which will help us grow and continue to meet customer needs."

The transaction represents the fifth platform investment completed by Iron Path Capital.

McDermott is acting as its legal advisor and FORVIS, LLP is acting as Iron Path's financial advisor.

About VION Biosciences

VION Biosciences is positioned to be a best-in-class life science platform delivering market-leading manufacturing and mission-critical chemicals and specialty reagents alongside value-added services to enable scientific discovery, clinical testing, therapeutic development, and innovative solutions across a wide platform of key applications in the biochemical and life science sectors, from research to commercialization.

About Iron Path Capital

Iron Path Capital is an operationally focused private equity firm making lower-middle-market investments across the healthcare and specialty industrial sectors. With offices in Nashville, TN and Charlottesville, VA, Iron Path Capital supports its partners with capital, operating expertise, business development, and industry relationships with the goal of achieving significant scale. Iron Path Capital focuses on growing companies with stable cash flows, superior management teams, defensible, scalable business models and multiple vectors for growth, both organic and through consolidation.

About Twin Bridge Capital Partners

Founded in 2005, Twin Bridge Capital Partners is an independent private equity firm headquartered in Chicago, Illinois. The firm targets equity investments in North American small and lower middle market companies through a combination of fund investing, co-investing, and GP-led secondary investing. The firm seeks to be a value-added partner to leading sponsors and management teams to build enduring businesses across North America.