Pharmaceutical firm bought by fast-growing life sciences group
SCIENTIFIC laboratory and consultancy group Concept Life Sciences (CLS) has bought a Bradford firm as part of its aggressive acquisition strategy.
The Manchester-based, private equity-backed group has acquired pharmaceutical testing business Agenda1 Analytical Services.
Agenda1 employs 30 people at the Listerhills Science Park, Bradford, and was launched in 2006 by Dr Simon Bristow and Ian Siragher. It is a specialist contract analytical company, delivering support services to pharmaceutical, healthcare and medical device companies.
Mr Siragher said: “The timing of this acquisition is very positive as we have been expanding our range of services to better meet clients’ demands. The investment from Concept Life Sciences means we can not only continue to do this but expedite the process whilst benefiting from being part of a larger team.”
It will continue to be led by its founders and executive team comprising Dr Caroline German, site operations director, and Dr Eleanor Hurst, head of chromatography.
Michael Fort, Concept Life Sciences’ executive chairman, added: “Organic growth is vital to ensure our business is built on a solid base which supports complementary, well-integrated services.
“We are committed to growing the business in this way and our growth figures fully support this. However, in order to build on this success we continue to look for acquisition targets that will expand our operational capabilities and better address our clients’ needs. These acquisitions will enable us to stay fresh in terms of our approach and thinking, as well as allowing us to truly differentiate ourselves in the markets in which we operate.”
Agenda1 becomes the fifth business to be integrated into CLS, which was created in July 2014 by the Manchester office of Equistone Partners Europe with the simultaneous acquisition of three established businesses – Peakdale Molecular, Resource & Environmental Consultants, Scientific Analysis Laboratories. It added a fourth business, Scottish firm CXR Biosciences, in August. The group has more than 600 staff in 11 locations.
Andi Tomkinson, investment director at Equistone and a non-executive director at Concept Life Sciences, added: “Agenda1 has an excellent business model, and is led by a highly skilled team with an established reputation in the pharmaceutical and healthcare market.
“This acquisition allows the company to become part of a much wider group and will help to further expand Concept’s analytical support services.”
