Tomo Drug Testing pens 2nd acquisition

Mickey Moore: The acquisition expands Tomo Drug Testing's regional operations.

Tomo Drug Testing announced its second acquisition of the year and in company history.

Following a July purchase in Indiana — the company’s first buyout — Tomo Drug Testing followed up with the Aug. 1 acquisition of Tulsa, Oklahoma-based Knox Laboratory, according to a news release issued late last week. The financial terms of the deal were undisclosed.

“This addition will increase and diversify our regional presence, and Knox’s talented staff brings added depth that we’re thrilled to have as part of our Tomo family,” said Mickey Moore, owner and CEO of Tomo Drug Testing, in the release.

Knox Laboratory’s offices in Tulsa and Bartlesville, Oklahoma, are scheduled to take on the Tomo Drug Testing name on Jan. 1. With 15 employees, the locations serve more than 1,000 clients.

The acquisition came about when Pennington Capital LLC — which had owned Knox Laboratory through investment group PAHC II — approached Tomo Drug Testing in late 2018, according to the release.

“I am pleased to see all the reasons why Tomo is excited about Knox, from the quality of their customer group and operating excellence of their team to the value that Tomo will bring to the equation,” Pennington Capital Managing Partner Lane Pennington said in the release.

Tomo Drug Testing last month announced the purchase of Indianapolis-based Drug and Alcohol Testing LLC, its first ever acquisition.