More acquisitions are planned in the near future
Concept Life Sciences, a newly formed international scientific laboratory and consultancy business based in Greater Manchester, UK, has been created with backing from private equity firm Equistone Partners.
Concept has been formed following the $100m (£58m) acquisition of three companies: Peakdale Molecular, a contract research organisation based in Chapel-en-le-Frith, along with multi-disciplinary environmental consultancy Resource & Environmental Consultants and independent laboratory Scientific Analysis Laboratories (SAL), which operate a number of sites across the UK.
The business 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.
These transactions are the first steps in building a comprehensive platform of services for our clients
Concept is led by Executive Chairman Michael Fort and Chief Executive Officer Alan Morgan.
Fort was most recently Chief Executive of Synexus Clinical Research, where he worked for more than 11 years.
Morgan has held a number of senior leadership positions in large global contract research organisations – Covance, ICON and RPS – including managing large laboratory networks across the world.
'These transactions are the first steps in building a comprehensive platform of services for our clients requiring science based innovative solutions,' said Morgan.
'Our objective is to expand our capacity across a broad range of services adjacent to our current capabilities in life, food, and environmental sciences. We have an outstanding management team and substantial financial support to expand through a mix of organic growth and targeted acquisitions.'
Fort added: 'Each of the companies we have acquired is a recognised leader in its field with an established client base.
'We believes that together, these companies will experience growth at an even greater pace and see genuine benefit from being part of Concept Life Sciences. The UK is a leader in life sciences and an excellent base from which to expand an international science group.'
The group currently has over 500 staff in ten locations, with plans to expand into continental Europe and the US.