Concept Life Sciences completes bolt-on acquisition
Concept Life Sciences, a scientific laboratory and consultancy group, has acquired pharmaceutical testing business Agenda1 Analytical Services Ltd. This marks the second bolt-on acquisition for the company since it was formed in July 2014 through the simultaneous acquisition of three companies, following investment from Equistone Partners Europe.
Established in 2006 by Dr Simon Bristow and Ian Siragher, Agenda1 is a specialist contract analytical company, delivering high quality support services to pharmaceutical, healthcare and medical device companies. The team will continue to be led by Bristow and Siragher, along with Dr Caroline German (Site Operations Director) and Dr Eleanor Hurst (Head of Chromatography).
Headquartered in Trafford Park, Concept Life Sciences has over 600 staff in 11 locations, with advanced plans for further expansion into adjacent service offerings. Other businesses in the group include Peakdale Molecular, Resource & Environmental Consultants, Scientific Analysis Laboratories and CXR Biosciences, which was acquired in August this year.
The latest acquisition will bolster Concept Life Sciences’ established business base and will enable Agenda1 to expand its range of services to meet increased demand from clients.
Andi Tomkinson, Investment Director at Equistone Partners Europe and Non-Executive Director at Concept Life Sciences, said: “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.”
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.”
Addleshaw Goddard provided legal advice on the deal. Other advisers included PwC (tax structuring), CIL Management Consultants (commercial due diligence) and Deloitte (tax due diligence). p>
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