Chapel firm benefits from $100m takeover

Business news
Business news

Chapel-en-le-Frith firm Peakdale Molecular Limited has been purchased by Concept Life Sciences as part of a $100m takeover.

Concept Life Sciences, a newly-formed international scientific laboratory and consultancy business, has made three acquisitions with a combined enterprise value approaching $100m, following backing from Equistone Partners Europe.

This investment is the 21st from Equistone’s £1.5bn Fund IV, which sees the mid-market private equity firm secure a majority stake in the newly-formed business.

As part of the deal, Concept Life Sciences has acquired Peakdale Molecular Limited, along with Resource & Environmental Consultants Limited (REC) and Scientific Analysis Laboratories Limited (SAL), which operate a number of sites across the UK.

Headquartered in Manchester, the group is currently focused on laboratory based analytical testing and complex chemistry synthesis.

This is with a view to accelerating their investment in biological sciences, cell-based ADME services, biostorage and stability testing.

Alan Morgan, Chief Executive at Concept Life Sciences, said the acquisitions are part of a long-term plan.

He said: “The acquisitions are the first steps in building a comprehensive platform of services for our clients requiring science-based solutions.”