Biotec Services International changes hands in MBO

A Wales-based pharmaceutical services company has been acquired in a management buy-out for an undisclosed sum.

The management team of Biotec Services International has purchased the company from its founder Marc Weinzweig.

Led by Chief Executive Officer, Keren Winmill, with the financial backing of Finance Wales, the change is part of a long term strategy to further grow the company to a £10m turnover by 2012.

Ms Winmill was appointed CEO in 2009 to spearhead a three-year growth plan, alongside Finance Director, Ravi Nalliah, Business Development and Project Management Director, Fiona Withey, Operations Director, Rachel Griffiths and Quality Assurance Manager, Tristram Evans.

Ms Winmill, said: “Having worked within the pharmaceutical services sector for many years, we have a strong understanding of our clients’ needs, the business and the many strengths that exist within the organisation. We are delighted to have completed the MBO and are confident that we can deliver profitable growth through increased market share whilst maintaining our excellent quality and customer service standards.”

Founded in 1997 by Marc Weinzweig, Biotec Services International was initially established in response to the growing demand for the transportation of biological and pharmaceutical products.

With the advent of the Clinical Trial Directive in 2004, the company rapidly expanded its clinical trials management service for the pharmaceutical and biopharmaceutical industries.

As part of the company’s next phase of growth, it will focus on developing new and existing core areas of expertise in both new and existing markets – Qualified Person services, clinical and commercial supply, logistics and storage, with an emphasis on products which require specialist handling.

Ms Winmill continued: “We have had a very successful three years, but we’re not resting on our laurels. We have already initiated ambitious plans to develop our team, facilities and scope of services. We are grateful to Finance Wales and our investors for backing us and I look forward to working with our superbly talented management team to take Biotec to the next level.”

Philip Roberts, Chairman and an investor in the business for over a decade, said: “It has been a privilege to have worked with both Marc and the management team in creating a successful international business.The MBO provides a sound platform for the future development of the company and the growth of the life sciences sector in Wales.”

Nick Larcombe of Finance Wales said: “Biotec’s ambitious management team has grown the company into a recognised global leader. Finance Wales’ investment will now enable it to develop its existing markets and expand into new ones. We look forward to working closely with Biotec’s management team as it continues to build the business.”

Advisors to the deal were Berry Smith and Richard Coppock for Biotec and Capital Law and Haines Watts for the vendors.

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