Carve out deal agreed for analytical chemistry firm
Drug discovery, development and manufacturing organisation, Concept Life Sciences, has carved out its Bradford analytical chemistry business to Cormica, a specialist in testing services for medical device and pharma producers.
Both Concept Life Sciences and Cormica are part of private equity house, Limerston Capital LLP and sit as part of its healthcare portfolio.
The deal recognises the synergies between Bradford’s research and analytical expertise, particularly in analytical chemistry and materials characterisations and Cormica’s existing capabilities in chemical analysis and physical testing of medical devices and combination products.
It will include the transfer of all employees based at the Bradford site to Cormica. They will remain located at the Bradford office and business will continue as normal.
Cormica has recently undergone a significant rebranding. Its new identity aligns with the business’s end-to-end focus and plans to expand its footprint in the UK, US and Europe, bringing forward life-saving products to more markets.
Focused on expansion through acquisition as well as organic growth, the Bradford business will further enhance Cormica’s service offering.
The divestment of the Bradford business represents a strategic move for Concept Life Sciences, allowing the company to sharpen its focus on its core service offerings, spanning drug discovery to early-stage development pathways.
Established in 2017 through the acquisition of various enterprises, Concept Life Sciences is known for its expertise in the pharmaceutical, biotech, and agrochemical sectors. The business was acquired by Limerston Capital earlier this year.
Mark Hammond, CEO of Cormica, said: “Cormica has an ambitious growth strategy, trained on full service regulated testing across, physical, chemical and microbiology.
“We know the Bradford business and its team well and the opportunity to strengthen our expertise in analytical chemistry will significantly strengthen our market position and provide an enhanced service to our customers.
“The deal made sense on a variety of levels, and, thanks to our existing relationship, was relatively simple to facilitate.
“We are now looking forward to integrating the team into Cormica and to identifying the immediate opportunities this will bring.”
Ben Cliff, CEO of Concept Life Sciences, added: “It has been a busy year for the business, and we have had the much-needed chance to review our operations and our longer-term strategy which will help us to realise the company’s full potential.
“Bradford has been an important part of our story so far. However, its offer aligns much more closely with Cormica which has a shared customer base and audiences.
“This deal will allow us to concentrate on our core service lines, working with our highly skilled team to drive our work in key markets.”
