Penningtons Manches advises on sale of Chemtest Group
Penningtons Manches’ corporate team has advised the shareholders of Newmarket-based Chemtest on its acquisition by Eurofins Scientific, the world’s largest group of laboratories with its HQ in Luxembourg. No figures have been disclosed for the deal.
Cambridge corporate partner Helen Drayton led the Penningtons Manches team, supported by associate Katharine Robinson.
Employment lawyers Sophie Whitbread and Charissa Upton also advised on the deal, alongside tax partner Kathy Hills and real estate specialists Sarah Coates and Giorgia Clements.
Chemtest is an independent, award-winning group providing routine analytical services and bespoke specialist testing throughout the UK, Ireland and Europe.
The Eurofins group turns over $4.6 billion per year, operating in 47 countries with over 800 laboratories worldwide. It employs 45,000 staff and conduct over 400 million tests each year, making it the largest life science company in the world.
The new business’ joint strategy is to be the UK and Ireland market leader in environmental testing, which will be supported with substantial financial investment, streamlined processes and structures within the group to adopt and implement best practice principles so we provide an outstanding experience for our clients.
Darrell Hall, managing director of Chemtest said: “This is another milestone in our journey for the business and one that will now be supported by the leading life science company in the world.”
Helen Drayton, corporate partner at Penningtons Manches added: “Having acted for the management team when they acquired the business in 2008, I am delighted to have worked with them again on the sale to Eurofins.”
Peter Noone, retiring Executive Chairman of Chemtest commented: “Working with Helen again and the Penningtons Manches team was great. Their assistance and guidance throughout the process was invaluable.
“We were very impressed with the level of service and professionalism they brought to the deal.”