Gloucestershire biotech firm is snapped up by industry leading specialist

Terry Pizzie

A biotech firm based in Gloucestershire has been acquired by a business which works in the same field.

Delta Precision, which has its head office in Stonehouse, has been designing, manufacturing and suppling chromatography products to the biopharmaceutical and biotechnology industries for more than 20 years.

During this time the company has established a reputation for creating high-quality durable products with a range of applications, including use in vaccine production and drug development.

The company, which was founded by Geoff Parnell and Bill Reay, has been acquired by Astrea Bioseparation, which has its headquarters in Cambridge and specialises in bioseparation and purification technologies.

The two businesses have forged a close relationship over the last ten years and the acquisition will enable Astrea to offer a full range of industry-leading purification and separation tools.

Terry Pizzie, chief executive of Astrea Bio, said: “The acquisition of Delta is another step forward in Astrea Bio’s rapid expansion to support the biopharmaceutical manufacturing field.

“This is a highly strategic move for us, allowing us to offer a full range of industry-leading purification and separation tools.”

Geoff Parnell, co-founder and managing director at Delta Precision, added: “We look forward to joining the Astrea Bio family, further cementing the long-standing relationship between the two companies.

“We are confident that our expertise in column manufacturing will complement and accelerate the Astrea Bio business and customer reach.”

Parnell worked with law firm Hazelwoods on the deal.

He said: “We appreciated the excellent professional guidance and support provided by Hazlewoods throughout the process.”

Hazlewoods tax associate partner Pete Woodall, who advised on the tax structure of the deal, said: “It was fantastic to work with everyone at Delta Precision and achieve a successful outcome.

“Years of hard work by the founders Geoff and Bill have paid off and I wish them all the best for the future.”

Rich Grover, corporate finance director at Hazlewoods, said: “It is always a pleasure to assist successful business owners who have grown their company from scratch.

“I would like to congratulate Geoff and Bill and look forward to watching this local business develop further with the backing of Astrea.”


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