Foresight invests £1.9m in Agar Scientific
Foresight Group has invested ТЃ1.9m in the management buyout of Agar Scientific from its parent Elektron Technology.
The deal was supported with banking facilities provided by Royal Bank of Scotland.
Following the transaction, Foresight will support Agar in improving its product range and customer engagement through online channels, while expanding internationally.
Company
Agar manufactures scientific laboratory equipment, focusing on electron microscopy products.
The company was founded in 1981 and is headquartered near Stanstead Airport. Agar employs 26 people.
People
Agar Scientific – Darren Likely, Rob Yeo, Paul Light (management).
Foresight Group – Matt Smith (investment director).
Advisers
Equity – Shakespeare Martineau (legal); PKF Cooper Parry (financial due diligence); Neovian Partners (commercial due diligence); Catalysis Advisory (operational due diligence).
Company – HW Corporate Finance (corporate finance).
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