Concept Life Sciences, a U.K.-based CRO, has been acquired by Limerston Capital for an undisclosed amount, marking the fourth life sciences platform deal for the investment firm.
The acquisition was part of a carve-out from Spectris, which acquired Concept in 2018 for 163 million pounds sterling ($204 million at current exchange rates). Financial terms of the deal between Limerston and Spectris, which is a U.K.-based manufacturer of precision instrumentation, weren’t disclosed.
Limerston also announced in an April 3 press release that Ben Cliff was promoted as CEO of Concept and will be responsible for a new corporate strategy to increase “commercial and technical flexibility to build and expand” services to clients.
Concept, which was formed in 1989, primarily serves the global research and development market, with clients in the pharmaceutical and biotechnology space ranging from blue chip to virtual biotech.
Concept was on an expansion tear several years ago, which included the 2017 acquisition of preclinical CRO Aquila BioMedical and added expertise in immuno-oncology, immunology and multiplex histology.