German firm snaps up BioCity pharma company
Catapult Venture Managers has exited Nottingham-based Food and Drug Analytical Services (FDAS) after it was sold to Tentamus UK, the UK subsidiary of German laboratories group Tentamus Group GmbH.
Based at BioCity, Nottingham, FDAS is an independent provider of pharmaceutical quality control testing services. Catapult first invested in the company when it was formed in 2004, alongside the founders of the business.
Jonathan Lowe, head of investor relations at Catapult, said: “Under Larissa Taylor’s leadership, FDAS has developed into a highly successful business, undertaking important testing work for the benefit of customers and consumers alike.
“Since we first invested in 2004, we have worked closely with the Board and management team of the company to support its growth and we are very proud of the success of the business to date.
“We are sure that under its new owners, FDAS will continue to go from strength to strength.”
Larissa Taylor, technical director at FDAS, said: “The sale of FDAS to Tentamus is without doubt the best option for the company and represents the next phase of development and growth.
“As part of the Tentamus Group of companies we will continue to build on our success. Part of the reason for that success has been the investment and support that Catapult have provided over the last twelve years, which has been greatly appreciated by the management team.”
Larissa Taylor will continue to lead the business
Shareholders were advised by the corporate team at Nottingham-based law firm Fraser Brown, led by Tom Gray and assisted by Peter Abel with accounting advice from Smith Hodge and Baxter.
