Percipient Capital backs Elucigene MBO

The buyout, supported by both equity and senior debt, was completed via the newco Delta Diagnostics. The GP has also provided the company with working capital to underpin the creation of a new manufacturing facility.

Terms were agreed within two weeks, with completion occurring two months later, to coordinate with internal deadlines at Hologic. Due diligence was completed in-house at Percipient.

Company
Founded in 1994 and based in Manchester, Elucigene is a clinical testing company. The firm's branded testing kit is used globally to diagnose human genetic conditions such as cystic fibrosis, Down's syndrome and other rarer diseases.

People
Jason Gould represented Percipient.

Advisers
Company – Odyssey Corporate Finance, Tom McCarthy, Ray Harris (Corporate finance); Higgs & Sons, John Heaton, Jamie Partington (Legal).

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• Topics
• UK / Ireland
• Healthcare
• Buyouts
• United Kingdom