2022

Year

Sell-Side

Transaction Type

Healthcare

Sector

Agar Scientific

Client

Calibre Scientific

Acquirer

Agar Scientific | Calibre Scientific

finnCap Cavendish, part of finnCap Group plc, is pleased to announce it has advised on the sale of Agar Scientific (“Agar”) to Molecular Dimensions Limited, a subsidiary of Calibre Scientific (“Calibre”), a US-based life sciences company, owned by international private investment firm StoneCalibre.

Agar is a global leader in the distribution and manufacture of electron microscopy consumables. The business was created as the result of an MBO carve out backed by Foresight Group in 2016. Since then, the business has more than doubled in size under the stewardship of Darren Likely and the Agar management team.

Agar operates in one of the fastest growing segments of the microscopy market, electron microscopy and sample penetration, which is growing by 10% per year. Its products are now used in industrial and research labs across the globe, in applications from research science to microchip manufacture and forensic investigation.

Agar has a strong strategic fit with Calibre, providing many synergy benefits. It will enable Calibre to expand their customer base and open up new markets in high growth areas.

The Agar management team will move across to Calibre as part of the deal.

The deal was led by Michael Jewell, Partner at finnCap Cavendish, supported by Sam Kavanagh, Associate Director and MJ Murphy, Associate.

Chris Wardle, Director at Foresight Group, commented: 

“It has been a pleasure to work with Darren and the team, who have confidently built and executed the strategy over the last six years and we wish them all the best on the next stage of their journey. I would also like to thank finnCap Cavendish, who built a great rapport with the Agar team, got to grips with the business quickly and ran an excellent process.”

Michael Jewell, Partner and Head of Healthcare at finnCap Cavendish, commented:

“We are delighted to have advised Agar’s management team and Foresight on this deal. It was a pleasure working with them and we are pleased to have secured the right cultural and strategic buyer for the business for the long-term. This transaction also highlights our sector-leading credentials in the life sciences and healthcare industries and demonstrates our strong capabilities to transact cross-border M&A deals.”

 

 

Key Contacts

Michael Jewell

Partner, Healthcare

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Sam Kavanagh

Associate Director

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M J Murphy

Associate

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