Bridgepoint acquires LGV's LGC for £257m

Bridgepoint has acquired forensics and scientific testing company LGC from LGV Capital for £257m.

Bridgepoint arranged its own financing package for the deal with the existing syndicate of lenders, including HSBC, Lloyds, Bank of Ireland and Societe Generale.

London-based LGC works with police and other authorities to offer toxicology, drug and paternity testing to help investigators at crime scenes. In addition to forensics, the business has three other divisions offering services including genetic and mass spectrometry testing, as well as reference materials for reference testing. The company employs 1,500 people in 28 laboratories in Europe, India, China and the US, and forecasts revenues of £130m for the year ending March 2010.