PE firm acquires biotech research organisation
Limerston Capital has acquired Concept Life Sciences, a leading integrated drug discovery, development and manufacturing organisation, in a carve-out from Spectris plc.
Concept Life Sciences is an established contract research organisation (CRO) with laboratories in Bradford, Derbyshire, Scotland and Kent
It serves the global research and development market, with clients in the pharmaceutical and biotechnology space ranging from blue chip to virtual biotech, ranging from drug discovery and early development through to API manufacturing.
Concept Life Sciences has invested significantly in its capabilities since 2020. It has developed world class biology facilities in oncology and immunology, ensuring unmatched insights into fast-growing specialty therapeutic areas and driving innovation. It had a team of around 300 accomplished scientists and more than 100 PhDs.
New chief executive Dr Ben Cliff will be responsible for a new growth strategy allowing the firm to leverage increased commercial and technical flexibility to build and expand its services to a new and existing client base.
Cliff has been part of the Concept Life Sciences senior team for five years and brings a wealth of leadership experience in the CRO industry from Intertek Pharmaceutical Services supporting the pharmaceutical, biotech, medical device and specialty chemical sectors. His experience covers all aspects of the business including operations, sales and marketing, quality and strategic development.
Limerston Capital is a private equity firm targeting UK businesses with EBITDA of between £5 million and £15 million.
Ben Cliff, CEO of Concept Life Sciences said: “Limerston Capital will be an excellent partner for our business, allowing us much greater commercial and technical focus so we can realise the company’s true potential and deliver the high value service our customers depend on to support their R&D activities.”
Jane Grewar, Senior Operating Partner of Limerston Capital, added: “We see enormous potential for the Concept Life Sciences business which is well positioned to benefit from high growth in the CRO market, with its strong pipeline of high-value, rapidly-growing services and a focus on highly invested therapeutic areas. The company’s excellent track record, highly-skilled team of scientists and industry-leading facilities, particularly in the high-growth areas of immunology, oncology and inflammation, make it a very attractive investment for Limerston Capital.”
