Concept Life Sciences launches, acquires three companies in $100M deal
Concept Life Sciences, a newly formed international scientific laboratory and consultancy business, has made three acquisitions with a combined enterprise value approaching $100 million, following backing from Equistone Partners Europe. Concept Life Sciences acquired Peakdale Molecular, Resource & Environmental Consultants (REC) and Scientific Analysis Laboratories (SAL), which operate a number of sites across the U.K.
Headquartered in Manchester, the group currently is focused on laboratory-based analytical testing and complex chemistry synthesis, with a view to accelerate investment in biological sciences, cell-based ADME services, biostorage and stability testing.
Executive Chairman Michael Fort and CEO Alan Morgan will lead the business, which has over 500 staff across 10 core locations. Equistone partner Steve O'Hare and investment director Andi Tomkinson both join the board as non-executive directors.
O'Hare said, "We've worked closely with the management team to develop the new group, whilst simultaneously making the foundation acquisitions, which have given entry into high-growth markets. The company has established a strong presence nationally and created a platform to target international growth and expand its service offering to existing clients. We look forward to developing the business further through the execution of its buy-and-build strategy."
Morgan said, "The acquisitions are the first steps in building a comprehensive platform of services for our clients requiring science-based innovative solutions. Our objective is to expand our capacity across a broad range of services adjacent to our current capabilities in life, food and environmental sciences."