Inflexion acquires Cawood Scientific from NVM
Inflexion Private Equity has acquired Cawood Scientific, a UK-based agriculture-focused analytic laboratory company, from NVM Private Equity.
In December 2013, under NVM's tenure, the company bolted on Sci-Tech Laboratories, which provides analytical testing predominantly for the UK poultry sector. It also appointed as its chairperson Donald Curry, a member of the House of Lords and former chair of the National Farmers Union Mutual Insurance Society, and invested in the development of its veterinary diagnostics business.
Inflexion has a history of investing in the agricultural services market, backing the management buyout of GFK's animal and crop health business Kynetec in November 2015.
NVM declined to comment on returns generated from the sale to Inflexion.
Previous funding
NVM invested £4m to support the management buyout of Cawood Scientific in December 2010.
Company
Headquartered in Bracknell, Berkshire, Cawood Scientific is a provider of analytical laboratory testing services for the farming industry. Its brands include Sciantec Analytical Services in Yorkshire, NRM Laboratories in Berkshire and Norfolk, and Sci-Tech Laboratories in Shropshire.
The business generated revenues of £10.8m in the year ending March 2016 with operating profits before tax of £1.2m, according to publicly available documents. It has a headcount of around 170.
People
Inflexion Private Equity – Carl Wormald (partner); Abhishek Majumdar (assistant director); Henry Arundel (investment executive).
NVM Private Equity – Peter Hodson (investment partner).
Cawood Scientific – Nigel Patrick (managing director); Linda Radnor (operations director).
Advisers
Equity – Addleshaw Goddard (legal); Strata Partners (corporate finance); BDO (financial due diligence); PwC (tax); Roland Berger (commercial due diligence).
Vendor – Weightmans (legal); Osborne Clarke (legal).
Company – RSM Corporate Finance (corporate finance, tax); GCA Altium (corporate finance).
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