A local investor group has purchased Aspen Research Corp., a 25-year-old research and development services company that focuses on science and materials, including plastics-related innovations.
In a deal announced Feb. 15, Aspen Acquisition Corp. bought Aspen Research from Andersen Corp., the window and door company. Aspen Research, founded in 1986, has done work on wood-plastic composites.
Aspen Research is housed in a 50,000-square-foot laboratory and manufacturing facility in White Bear Lake, Minn., near St. Paul.
Aspen became Andersen's R&D operation. But the research firm has worked on projects on a wide range of industries, not just construction products including medical devices, specialty chemicals and biomaterials.
Officials of Aspen Research delivered several technical papers at Antec 2010, the Society of Plastics Engineers' annual technical conference. One paper, titled Extractables and leachables: What to do and why do it, reviewed studies of biocompatibility, or how chemicals can move from medical devices into the body.
The Aspen Acquisition investor group is led by Rick Burnton, an investment and commercial banker in the Twin Cities area. Burnton is now Aspen's president and CEO.
Terms were not disclosed.