Branford Castle Partners, LP, a New York City-based private equity firm, today announced that its affiliate has purchased Lafayette Instrument, manufacturer of scientific instruments, including their market-leading polygraph systems, as well as a suite of proprietary neuroscience equipment.

Based in Lafayette, IN, the Company sells its polygraph products to most federal law enforcement and government security agencies, as well as to state and local law enforcement agencies. Lafayette’s neuroscience equipment is sold to neuroscience research laboratories at the most prestigious universities and research institutes around the globe.

Branford is joining forces with existing management, including CEO Jennifer Rider, who is the current owner and who will be investing in the transaction as well. This investment represents the second transaction for Branford Castle Fund II.

“We are excited to partner with Jennifer and Steve Rider at Lafayette. The Company’s long-standing position as the leader in the polygraph market, along with their growing suite of proprietary neuroscience products, make it a terrific platform for continued growth,” said Senior Managing Director, Laurence Lederer.

“We are pleased to work once again with Byline Sponsor Finance, a division of Byline Bank, which is providing senior debt financing, and Brookside Capital Partners, which is providing mezzanine debt financing for this transaction,” said Vice President, Ceon Francis.

Jennifer Rider, CEO, further said, “Steve and I are proud of our family’s leadership of Lafayette over the last 25 years. We are excited about this new chapter of the Company’s development as we work with Branford Castle to provide the best service to our customers and achieve new levels of growth.”

Branford Castle was advised by its legal counsel, Akerman LLP. Lafayette Instrument was advised on the sell-side by Translink Corporate Finance. Terms of the transaction were not disclosed.