The North West Fund for Biomedical has announced its successful exit from Alderley Analytical, a leading independent Contract Research Organisation (CRO) specialising in bioanalytical services.
The exit comes as part of Alderley Analytical's acquisition by Synexa Life Sciences, a Dutch-based company backed by major European healthcare investor Gilde Healthcare.
The initial July 2015 six-figure investment from The North West Fund for Biomedical, managed by River Capital under contract for SPARK Impact, has yielded a significant return, highlighting the success of both Alderley Analytical and River Capital's investment strategy.
Jerry Mobbs Portfolio Director River Capital commented on the exit: "Our investment in Alderley Analytical exemplifies River Capital's commitment to supporting innovative businesses in the North West.
"The company's growth from a start-up to a major player in the bioanalytical services sector is a testament to the hard work of its founders and the potential of the region's biomedical industry."
Alderley Analytical, founded in 2013 and operational since 2014, has grown significantly since the initial investment. The company now employs around 60 highly qualified staff with more than 200 clients and has recently relocated to specially designed laboratories at Tytherington Business Park near Macclesfield.
Paul Holme Co-Founder and Director Alderley Analytical: "As we enter this new phase with Synexa Life Sciences, we're grateful for the early support from River Capital. Their investment allowed us to build a company that delivers high-quality, bespoke bioanalytical services to pharmaceutical, biotech, and CRO clients worldwide.
"Becoming a part of the Synexa Group is a fantastic next step for our business which will allow us to accelerate our growth plan. Both parties in this acquisition will bring a valued opportunity to each business. There is a strong strategic rationale in bringing Alderley Analytical and Synexa together with many commercial synergies already identified”.
Pictured (left to right): Paul Holme, Claire Wildgoose and Sally Hannam; Founders of Alderley Analytical
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