Nordic BioSite Group (NBG) is a leading European supplier of research and diagnostics products, with a particularly strong position within the antibody and other research reagent markets. The acquisition of Cambridge Bioscience means NBG will become an even stronger partner to its suppliers, expand the geographic footprint of its network, and bring new products to customers. The addition of Research Donors brings an exciting new product area to NBG’s existing European customer base.
The CEO of NBG, Wilco van Hamond, said:
“We see strong potential for creating a pan-European life science research distributor, serving suppliers across Europe. The intensity and quality of British life science research made the UK a natural next step in our growing geographical footprint. Cambridge Bioscience was the clear choice given their excellent reputation amongst both suppliers and customers. In our constant efforts to better serve our customers we identified human biospecimens as a key enabler of life science research and as a gap in our current portfolio – hence we see strong logic for acquisition of Research Donors, a London-based high-quality provider of biospecimens.”
Mike Kerins, Managing Director of Cambridge Bioscience and founder of Research Donors will continue to lead UK operations as well as supporting the Group on strategic development. Commenting on the acquisitions, he said:
“The consolidation of the European life science distribution market will generate value for suppliers and customers, and I see a bright future for both Cambridge Bioscience and Research Donors as part of the fast-growing Nordic BioSite Group. PEM Corporate Finance have been highly supportive throughout this sale process. Their team have helped us to negotiate the deal terms and then navigate the sometimes complex process to reach completion. I have been impressed with the breadth and depth of knowledge across their team.”
PEM Corporate Finance (PEMCF) were appointed by the vendors to provide M&A and tax advice. Lake Falconer, partner at PEMCF, said:
“We’re delighted to have helped Mike with the process from initial discussions with NBG right through to completion. Selling two companies at once presented some complexities which we were able to tackle as a team working closely with our specialist tax colleagues. It’s an excellent strategic deal for all the parties.”
Duncan Walker and Ross Fletcher from BDB Pitmans were appointed to provide legal advice to the vendors and White & Case represented NBG.