London – Foresight Group (“Foresight”) has supported the management buyout (“MBO”) of Agar Scientific Limited (“Agar” or the “Company”) from its current parent, Elektron Technology PLC with an investment of £1.9m.

Agar is a leading manufacturer and distributor of scientific laboratory equipment, with a focus on electron microscopy consumables. Founded in 1981 by Alan Agar, the Company enjoys global recognition as a provider of high-quality components and excellent customer service.

The investment supports the management team of Darren Likely, Rob Yeo and Paul Light in their MBO of the Company. Over the past five years, Agar has increased its focus on high-quality ownmanufactured products, developed deeper relationships with its global customers and improved its online offering. Royal Bank of Scotland supported the Company with attractive banking facilities, which alongside Foresight’s investment, will provide the management team resources to pursue their growth plan.

As part of the investment, Andrew Dixey will join the Company as Chairman, bringing with him wide experience of growing customer-centric businesses both in the UK and globally. Foresight’s investment will help Agar to continue to develop its sales and service offering to its customers, while exploring new growth opportunities.

Matt Smith, Foresight Investment Director, commented:

“Agar already has a market leading brand and a long history of delivering high-quality products and service levels to its customers. We look forward to working with the management team to grow the business over the coming years, increasing the range of services provided to customers.”

Darren Likely, Agar Managing Director, commented: “Agar has huge potential. The Company will continue to focus on providing excellent products and services for its customers. Whilst maintaining and promoting service levels, with Foresight’s support we plan to improve the product range and customer engagement through online channels whilst also improving our global reach. I am excited to be working as part of an excellent team, providing Agar with the management bandwidth to support the growth plans.”