Ashurst acted for LGC Holdings Limited, the provider of chemical
and biological analytical services and reference materials, and its
shareholders, including LGV Capital, on the £257m sale of LGC to
Bridgepoint.
LGC products and services are focused on customers in forensic
sciences, pharmaceuticals and biotechnology research, development
and quality control, food chain and environmental surveillance and
safety, life sciences and genomics. It has approximately 1,500
employees in 28 sites in 17 countries.
A separate team advised Bank of Ireland, HSBC, Lloyds, and SocGen
as debt providers to Bridgepoint.
Private equity partner Bruce
Hanton led the team advising LGC and its shareholders, assisted
by senior associate Nick Rainsford. Advice on pensions issues was
provided by partner Steven
Hull, assisted by senior associate Marcus Fink.
Loan markets partner Simon
Thrower led the team advising the debt providers, assisted by
senior associate Kenneth Tang and associate Hugh O'Sullivan.
Commenting, Bruce Hanton said:
"Given the increase in regulation and steady cashflow, companies in
the scientific sector continue to appeal to private equity. This
was the latest in a series of exits on which Ashurst has advised
LGV Capital."