UAS Laboratories, a Wausau, WI-based probiotics maker, has pulled in $21.7 million in new equity financing, according to a document filed with securities regulators. Twelve investors participated in the deal, the document shows.
The funding comes almost two years since UAS Labs last raised money, a $21.2 million equity financing round.
UAS Labs formulates, blends, bottles, and distributes probiotic products, which are designed to stimulate the growth of so-called “good” bacteria in the gut. The company offers private label sales, which allow customers to incorporate formulations from UAS Labs into dietary supplements and other products, and sell them under their own brand names.
The company was launched in 1979 by S.K. Dash, who remains a member of its board of directors, according to the new securities filing. In 2013, the Milwaukee-based private equity firm Lakeview Equity Partners acquired UAS Labs for an undisclosed sum. As part of that deal, Kevin Mehring and Greg Leyer were named president and chief scientific officer, respectively, of UAS Labs. Mehring also currently serves as the company’s CEO, according to its website.
Xconomy has e-mailed Lakeview managing director Joseph Cesarz, who is listed on the UAS Labs securities document as one of its executives and board members, for comment. We’ll update this story if we get a response.