Spectris has completed its acquisition of Concept Life Sciences. They have acquired the Concept Life Sciences Group of companies from Equistone Partners and company management, for a purchase consideration of £163 million, on a debt and cash-free basis.

Concept represents a new, high-growth area for Spectris, and will become a separate operating company within its Materials Analysis segment where it has strong synergies with the activities of Malvern Panalytical. As a result of the acquisition, Concept’s customers will benefit from access to Malvern Panalytical’s expertise in molecular testing and analysis. 

Concept has achieved significant growth over the period 2015-2017, driven both organically and through M&A activity. The recent acquisition of Aquila Biomedical, an immunotherapy business, significantly added to their reach in integrated drug discovery and development services. 

John O’Higgins, chief executive officer, Spectris plc, said,  “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.”

Spectris reported 2016 revenue of £1,346m, with operating profit of £201m and has low debt.