Cawood Scientific, the UK’s largest independent provider of analytical laboratory testing services for land based industries, has partnered with Inflexion to support its next phase of growth.
Founded over 25 years ago and headquartered in Berkshire, Cawood offers a multi-disciplinary analytical testing service into the arable, livestock and environmental sectors.
Cawood serves over 3,500 customers across three divisions: NRM, Sciantec Analytical Services and Sci-Tech Laboratories. The company has circa 170 employees working in four laboratories in Berkshire, Yorkshire, Shropshire and Norfolk.
In December 2010, managing director Nigel Patrick and operations director Linda Radnor undertook a management buy-out, supported by NVM Private Equity. Since then, Lord Curry of Kirkharle joined as chairman and the company has continued to develop its laboratory capabilities and established its veterinary diagnostics business.
Inflexion is a UK independent mid-market private equity house and works in partnership with its investee companies to support further growth. Cawood joins a number of comparable companies in the Inflexion portfolio including British Engineering Services (an engineering testing, inspection and consultancy firm), Kynetec (a provider of data into the agriculture and animal health markets) and Alcumus (a provider of compliance risk management and accreditation services).
The investment was led by Carl Wormald supported by Abhishek Majumdar and Henry Arundel.
Patrick and Radnor say: “We are delighted that the Cawood business is partnering with Inflexion to help us achieve the next stage of growth for the company. With a chairman of the calibre of Lord Curry of Kirkharle and the backing of Inflexion we firmly believe the Company is extremely well placed to serve and grow within the agri-foods market in which we operate. We would also like to express our thanks to Ian Latham, of RSM Corporate Finance for the constructive support provided to us and the management team in negotiating the deal through the completion process and looking forward to working closely with RSM and Inflexion in continuing to grow the business.”
Peter Hodson, investment partner of NVM, says: “We are delighted with our investment and successful sale of Cawood Scientific and feel the business is now well placed for its next phase of growth under Inflexion's ownership. It has been a pleasure working with Nigel, Linda and Lord Curry and we look forward to watching its continued progress and wish them every success for the future.”
GCA Altium managing director Simon Lord advised the company on the sale, supported by director Dominic Orsini and associate Tom Battersby.
Lord says: “Over the last few years, Cawood has established itself as the UK’s leading provider of agri-testing data, with its three distinct brands providing a high quality service and analytical insight. Partnering with Inflexion will enable the business to continue its growth in a growing market as agriculture is subject to increasing demographic challenges.”
Weightmans and Osborne Clarke provided sell-side and management legal advice, while RSM provided management with financial and tax advice. Advisers to Inflexion included Addleshaw Goddard (legal), Strata Partners (corporate finance), BDO (financial due diligence), PWC (tax) and Roland Berger (commercial).
