Fast-growing life sciences firm Gentronix has been acquired by the Danish group Scantox in a significant move for both companies.
- Gentronix, renowned for its genetic toxicology services, sees this acquisition as a strategic step forward.
- The acquisition provides a lucrative exit for Mercia Ventures’ Northern Venture Capital Trusts, with a return of 4.5x investment.
- Scantox plans to expand its service portfolio by integrating Gentronix’s expertise into its offerings.
- Industry experts express optimism about the growth opportunities for the combined business.
Gentronix, a dynamic player in the life sciences sector, has expanded its horizons through an acquisition by Danish company Scantox Group. This strategic move is hailed as a ‘fantastic next step’ for the company and its 70 employees. Established in 1999, Gentronix is located in Alderley Park and provides vital genetic toxicology services to global industries, including pharmaceuticals and agrichemicals. The acquisition accentuates Gentronix’s formidable reputation in delivering top-tier scientific solutions.
Mercia Ventures, a key investor, rejoiced in this acquisition as it delivered a favorable return, marking a 4.5x return on their initial investment of £14.8 million. This financial milestone reflects their prudent investment strategy and underscores Gentronix’s impressive growth trajectory over recent years, facilitated by steadfast leadership.
Scantox Group, headquartered near Copenhagen, acknowledges Gentronix’s eminent status in genetic toxicology. Scantox’s CEO, Jeanet Løgsted, emphasized the strategic complementarity that Gentronix brings to their operations, enhancing their ambition to become a leading contract research organization. She articulated that the merger aligns with Scantox’s objectives to augment its scientific offerings and client services.
Matt Tate, CEO of Gentronix, remarked on the strategic synergies expected from the collaboration with Scantox. He noted the substantial opportunities for expansion and innovation, which will ultimately benefit their extensive client base. The amalgamation aims to fortify their position as a prominent global force in toxicology research and pharmaceutical development.
Nicholas Hooge of Impilo and Alex Gwyther of Mercia Ventures echoed sentiments of optimism for the future of Scantox and Gentronix. The acquisition is perceived as a pivotal moment in Scantox’s transformative year, reinforcing its strategic goals. The integration promises to cultivate a stronger, more versatile enterprise tailored to meet the evolving demands of the sector.
The acquisition of Gentronix by Scantox heralds a promising future for innovation and growth in life sciences.
