BDB Pitmans advise on sale of leading life science industry distributor
Top 100 UK law firm, BDB Pitmans, has advised Cambridge Bioscience Ltd, a Cambridge-based distributor of high quality and innovative life science products, on its sale to Nordic BioSite Group (NBG) for an undisclosed sum. As part of the transaction, Research Donors Ltd, sister company to Cambridge Bioscience, has also been acquired.
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. Duncan Walker and Ross Fletcher from BDB Pitmans have provided expert legal guidance to us as we have negotiated the agreements for these transactions. Their advice has been clear, constructive and efficient, ensuring that shareholders’ best interests have been met.
BDB Pitmans were appointed by the vendors to provide legal advice. Duncan Walker, partner, said:
It was a pleasure to advise and negotiate on behalf of Mike Kerins and Cambridge Bioscience on these transactions. We had a strong and constructive relationship, which we believe ensured the best outcome. In addition, we had a fantastic and enjoyable working relationship with PEM Corporate Finance. It has been great to work professionally with them.
Lake Falconer and Samuel Reynolds from PEM Corporate Finance were appointed to provide M&A advice to the vendors and White & Case provided legal advice to NBG .