Catapult makes 5.2x on Oxford Cryosystems exit

The company's management led a share buyback from the VC five years after Catapult first backed Oxford Cryosystems through its £30m Catapult Growth Fund, chief investment officer Ed Wass told unquote".

Oxford will continue as a private entity following the deal, looking to continue the growth experienced under Catapult's ownership.

Previous funding
Catapult acquired Oxford Cryosystems through a management buyout in September 2010, carving the company out of parent Bionostics after an approach by Critchleys Chartered Accountants.

Though the initial investment size was undisclosed, Catapult's fund typically invests between £200,000-2m per ticket.

Company
Founded in 1985, Oxford Cryosystems specialises in developing applications for low-temperature devices used in x-ray crystallography.

Based in Long Hanborough, the company was acquired by Bionostics in 2008. Its customers include universities, colleges, government-funded research facilities, hospitals and private research institutes.

People
Catapult chief investment officer Ed Wass led the deal for the VC. Richard Glazer is the CEO of Oxford Cryosystems.

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