Investment firm KKR confirms the sale of LGC to major consortium

The leading global investment firm KKR reportedly announced having sold off a pioneer in the Life Science Tools sector, LGC to Cinven and Astorg. However, the financial terms of the deal have not yet been disclosed by the parties.

For the uninitiated, LGC, headquartered in London, offers an overall range of measurement tools, proficiency testing schemes, specialty genomics reagents, and supply chain assurance standards manufactured by leading analytical and measurement science capabilities. Apparently, the company serves numerous customers across the world including human healthcare, food, agriculture, and environment.

Speaking on the matter, the CEO of LGC, Tim Robinson exclaimed that KKR’s ownership has led the company move further on its mission to offer Science for a safe and secure world. The company has expanded its capabilities in the fields of chemical reference standards, management system standard, clinical reference materials and control, and next-gen sequencing. He further added that the company since inception has accomplished robust organic growth supported by the investment in key sites across various region.

It has been claimed that LGC is delighted to be partnered with LGC for the upcoming years and is expecting to continue its investment in catering its services to the customers whilst supporting the development of the employees.

Meanwhile, Edouard Pillot, the Member and EMEA Head of Industries reportedly cited that the group has successfully identified LGC as a strong business partner offering significant growth prospects in the upcoming years. He, on behalf of the whole company, tends to see the LGC company reaching new levels of height in the near future with this new chapter of the unison with Cinven and Astorg.

Estimates claim that the Director in Healthcare Industry Team and Head of Europe for the Healthcare Strategic Growth Fund, Kugan Sathiyanandarajah has presented his views on the same stating that 2016 saw high potential for the growth of leading global life science tools platform across Standards and Genomics. This has allowed them to deploy an entire portfolio of KKR’s global platform and healthcare segment expertise to aid the company’s development and venture into new markets.
 

Source credit: https://www.businesswire.com/news/home/20191121005374/en/KKR-Agrees-Sale-LGC-Cinven-Astorg