In addition to helping its clients reach compliance with regulatory standards, ACS Laboratory offers testing services for plant micronutrients, flavonoids and more. It is currently working on a number of projects to expand its testing offerings.
The company is also CLIA-certified, which means it can perform pharmacokinetic studies on human blood and tissue samples. ACS Laboratory can help companies test for THC and CBD levels in the human body.
Hemp and CBD Testing
While the current regulatory landscape means ACS Laboratory is only able to test cannabis products from the Florida market in its Florida lab, hemp and CBD are federally legal. Clients, including growers, manufacturers, extractors and retailers, ship the lab hemp and CBD samples from 48 different states.
The wide reach of the company’s hemp and CBD client base is an indicator of ACS Laboratory’s reputation, according to Brown. Clients from other states often have other laboratory options much closer to home.
Expansion Plans
ACS Laboratory is in the process of expanding its presence to serve more THC markets. It is in negotiations to acquire laboratories in six different states, according to Brown. M&A makes sense for the company. It is profitable and has the necessary capital.
The cannabis testing laboratory market is still relatively fragmented. As smaller labs grow, they are faced with the challenges of becoming a mid-sized organization; corporate finance, human resources, employee benefits, etc. Not all labs are able to accomplish that, and an ACS Laboratory acquisition could be appealing.
The company does not usually buy other labs outright. Rather, it acquires through a combination of cash and equity, according to Brown.
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