Microgen Bioproducts acquired by Lab21
International M&A specialist BCMS Corporate has completed the sale of diagnostic kit manufacturer Microgen Bioproducts to Lab 21.
Microgen Bioproducts, which was founded in Camberley, Surrey in the mid-1990s, has built an enviable reputation for its diagnostic kits, which are sold worldwide for use by hospital laboratories in the diagnosis of disease and by food companies in the testing of food for the presence of pathogenic bacteria.
Recently, the directors and long-term investors of the 20-strong company expressed a desire to exit from the business and turned to BCMS Corporate to identify a suitable buyer.
Under the terms of the sale, Dan Deery, Managing Director and Chris Rackham, Operations Director, will remain with the business to assist in integration and to help develop the group business.
The new owners of Microgen Bioproducts are Lab 21, a global specialist in personalized medicine and clinical diagnostics.
Judith Robinson, deal leader at BCMS Corporate states, “We are delighted to have completed this deal on behalf of the Microgen Bioproducts shareholders. Interest in the business was strong, given the nature of the work they do, but we believe that in Lab 21, we have found an excellent fit for everyone involved moving forward.”
Adds Dan Deery, Managing Director of Microgen Products, “Selling a business is never easy. So when we decided to create an exit for our investors we were keen to make sure that the business remained in extremely good hands and that the interests of our staff and customers were enhanced, and we believe we have done just that with Lab 21.”
BCMS Corporate is a leading, independent middle-market advisor with over 20 years of experience worldwide. It advises clients on sell-side transactions, acquisitions, and private placements of debt and equity. The firm’s unique understanding of private company owners’ objectives and issues facing private companies during the transaction process has enabled BCMS to successfully execute over 400 transactions across a diverse group of sectors. BCMS currently employs over 200 professionals, with offices in North America (New York, Dallas / Fort Worth, Los Angeles and Calgary), Europe, Africa and Asia.