Listed biotech company completes sale of its genetics business
Sheffield-headquartered aquaculture biotechnology company, Benchmark, has completed the sale of its genetics business area to Novo Holdings for an enterprise value of £260m.
The deal, which was first reported in November last year, comprises an initial consideration of £230m and contingent consideration of up to £30m.
For the last 12 months to 30 June 2024, Benchmark’s Genetics Business generated revenue of £57m and adjusted EBITDA of £14.5m. The net assets of the Genetics Business as of 30 June 2024 amounted to £52.8m.
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