Spectris plc acquires Concept Life Sciences

Spectris plc acquires Concept Life Sciences, the integrated drug discovery, development and analytical services and environmental consultancy company. Spectris has acquired the Concept Life Sciences Group of companies from Equistone Partners and company management, for a purchase consideration of £163 million, on a debt and cash-free basis.

Concept set to become a separate operating company within its Materials Analysis segment where it has strong synergies with the activities of Malvern Panalytical. As a result of the acquisition, Concept’s customers will benefit from access to Malvern Panalytical’s finesse in molecular testing and analysis. In the medium term, Concept’s in-depth scientific offering, customer knowledge, and application insights, combined with Malvern Panalytical’s deep domain knowledge and broad reach, will surge its innovation in breakthrough and stimulate further advancements.

Michael Fort, Executive Chairman, Concept Life Sciences, commented: “Concept was positioning for a sale in late 2018/early 2019, and we are therefore delighted that our success has been recognised by Spectris, leading to an earlier than planned acquisition. The global footprint of Spectris along with their expertise in complementary activities and experienced management team offers the infrastructure to support Concept’s ambitions for international growth. We are very excited to begin working together.”

John O’Higgins, Chief Executive, Spectris plc, said: “Concept is a high-quality services business, which further strengthens our portfolio and enhances our ability to provide customers within the pharmaceutical, life sciences and advanced materials sectors with a combined product and service proposition. The Spectris executive team is excited to work with Michael and the team in order to deliver on the opportunities that both groups see.”