London, UK 1/26/18; Manchester and Egham, England 1/26/18; London, UK 1/26/18—Instrumentation and controls supplier Spectris has acquired Concept Life Sciences from Equistone Partners and management. The purchase price totaled £163 million ($233 million = £0.70 = $1) on a debt- and cash-free basis. Concept Life Sciences provides consultancy services, primarily to the pharmaceutical, biotechnology, agricultural and environmental sectors. In 2017, the firm recorded pro-forma revenues of £48.7 million ($69.6 million) and pro forma EBITDA of £9.3 million ($13.3 million). Concept Life Sciences joins Spectris’ Materials Analysis business. “Concept is a high-quality services business, which further strengthens our portfolio and enhances our ability to provide customers within the pharmaceutical, life sciences and advanced materials sectors with a combined product and service proposition,” stated Spectris Chief Executive John O’Higgins.

A contract research and testing organization, Concept Life Sciences provides discovery and development services as well as analytical services. Concept Life Sciences has 700 full-time employees and operates 11 labs. This is the first dedicated service business to be part of Spectris’ Materials Analysis division, which consists of Malvern PANalytical and Particle Measuring Systems. The acquisition supports division’s efforts to increase its software and services offerings, as described in a 2017 investor presentation.