Concept Life Sciences Charts Growth Path with Three Acquisitions
Newly minted Concept Life Sciences said today it has acquired three companies with a combined enterprise value of $100 million—part of a broader plan to expand operations beyond the U.K. and grow into a global scientific laboratory and consultancy business.
Acquired by Concept Life Sciences were Peakdale Molecular, Scientific Analysis Laboratories (SAL), and Resource & Environmental Consultants (REC). The prices of the acquisitions were undisclosed.
Peakdale is a global CRO specializing in services that include drug discovery support, nucleoside chemistry, materials chemistry, and research support. Peakdale employs more than 100 organic chemists and operates two U.K. sites—its headquarters in Chapel-en-le-Frith (near Manchester), and at Discovery Park at Sandwich, Kent. Peakdale’s website lists Pfizer among its past and present customers.
Concept Life Sciences said the acquisitions reflect its focus on lab-based analytical testing and complex chemistry synthesis. That focus will broaden, Concept added, as it plans to boost spending in biological sciences, cell-based absorption, distribution, metabolism, and excretion (ADME) services, biostorage, and stability testing operations.
SAL oversees five independent labs across Europe that offer analytical services for chemical, food, and feed clients, among a broad range of business users. REC’s environmental services include asbestos consultancy, and investigation and remediation of contaminated land.
“These transactions are the first steps in building a comprehensive platform of services for our clients requiring science-based innovative solutions. Our objective is to expand our capacity across a broad range of services adjacent to our current capabilities in life, food, and environmental sciences,” Concept Life Sciences’ CEO Alan Morgan said in a statement.
Morgan, who has held senior leadership positions in global CROs, co-leads Concept Life Sciences with executive chairman Michael Fort, who previously served as CEO of Synexus Clinical Research.
Headquartered in London, Concept Life Sciences has more than 500 staffers in 10 core locations, with plans to expand in the European continent and the U.S. The mid-market private equity firm Equistone Partners Europe is Concept’s key investor, having secured a majority stake through its £1.5 billion ($2.6 billion) Fund IV. Equistone Partner Steve O’Hare and Investment Director Andi Tomkinson will both join Concept’s board as nonexecutive directors.