Endless hails chemical turnaround

PRIVATE equity and turnaround investor Endless has sold its stake in specialist chemical development and manufacturing services provider Excelsyn for £12m.

North Wales-based Excelsyn, which had revenues of £9.6m in 2009, has been bought by American company Albany Molecular Research, a provider of scientific services, products and technologies focused on improving the quality of life. 

Endless invested in Excelsyn, based in Holywell in 2007 alongside NorthStar and has helped develop the company into a market leader supplying the pharmaceutical industry in Europe. 

Excelsyn has 60 employees and its site includes laboratories and manufacturing capabilities. 

Excelsyn chief executive Ian Shott said: “Endless and NorthStar showed outstanding initiative in backing Excelsyn in 2007 when others would not, and their courage and foresight have been well rewarded.”

Aidan Robson, of Endless in Leeds, who led both the original investment and the exit, said: “This represents another successful turnaround with good returns for Endless. 

“We invested in Excelsyn when the business was facing considerable challenges and had lost investor support. Three years on and following significant work and commitment from both Endless and management,

“Excelsyn is now a market leader in providing chemical development and manufacturing solutions to the pharmaceutical industry.”