Quotient Bioresearch, at the heart of the Cambridge BioMedTech cluster, has been bought by its management in a multi-million pound deal.Exact terms are not being disclosed for the buyout, which has been financed by TA Associates, the existing private equity shareholder.
Quotient is a UK-based provider of outsourced development services, employing over 500 people and serving pharmaceutical and life science customers on a global basis.
It has built a broad and innovative service portfolio, principally targeted at the early stages of drug development, and based upon its chemistry, metabolism, bioanalytical and clinical capabilities.
Quotient is growing strongly, with like-for-like revenues up more than 20 per cent on last year.
The Quotient management buyout team was led by CEO, Roger Burdett, and CFO, Gordon Cameron. TA Associates, which provided new equity to finance the transaction, is a leading global growth private equity firm with over $16 billion of capital.
Roger Burdett, chairman and CEO of Quotient, said: “Quotient has rapidly established itself as one of the leading providers of specialist drug development services.
“Our clients are attracted by our innovative range of integrated and standalone services, and our commitment to delivering high quality data to support their projects. The rapid growth we have seen is a testament to our employees who work so hard on behalf of our clients.”
Jonathan Goldstein, a managing director at TA Associates, added: “Quotient has built an outstanding reputation in the marketplace, with a focus and commitment to excellent customer service. We are delighted to be backing the management team to continue to grow the business.”
• PHOTOGRAPH SHOWS: Quotient FO, Gordon Cameron