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Pike Street Capital buys US BioTek Laboratories

Seattle-based private equity firm Pike Street Capital LLC paid an undisclosed sum to acquire US BioTek Laboratories Inc., which offers specialty testing services related to food allergies and intolerances to health and wellness professionals.

Shoreline, Wash.-based US BioTek will use the investment to expand and improve its testing and reporting capabilities, widen its customer base and hire new executives. US BioTek founders and leaders Raymond and Margaret Suen will transition to advisory roles but will remain investors in the company.

Pike Street manages a private equity fund that seeks growth buyouts in the lower-middle-market industrial technology sector.