London, UK 8/18/16; London, UK 9/13/16—Sherwood Holdings, part of Continental Investment Partners and Harwood Capital, has completed its planned acquisition of Source BioScience, a publicly held provider of laboratory products and services (see IBO 6/15/16). The company was purchased for £0.18 ($0.26) per share, or approximately $91.2 million. A proposed offering was originally announced in June for the same price. The company’s shares were delisted from the London Stock Exchange on September 16. In the proxy form sent to shareholders, Source BioScience wrote, “The Sherwood Directors have not sought to create a new strategic plan for the Source BioScience Group and instead intend to support Source BioScience’s management in continuing to develop and execute management’s existing medium-term strategy for the Source BioScience Group.” It also stated that the company would operate better as a private firm “free from the requirement to meet the public equity market’s shorter term expectations.”

The company provides services, including DNA sequencing and diagnostic testing services, and products for multiple end-user markets. The company divides its Life Science division offering into three categories: Clinical Products (serology products and cytology products), Life Science Research Reagents, and Controlled Environment. The company’s recent priorities include expanding its international business and the Environmental Chamber business, which was created through the acquisition of Vindon, a provider of environmental control products, in 2013.