Element Materials Technology has acquired pharmaceutical testing business, Analytical Lab Group (ALG) from Thompson Street Capital Partners.
ALG’s team of 130 scientists and experts operates a number of FDA and EPA compliance focused laboratories in San Francisco, Minneapolis and Boston in the US, offers testing solutions in the molecular cell biology and virology testing, antimicrobial, pharmaceutical, medical device, biotech and healthcare industries. ALG is now able to offer SARS CoV2 anti-microbial and anti-viral testing services to its customers in the healthcare, pharmaceutical, consumer products and medical device industries in accordance with EPA guidelines.
“This acquisition will significantly strengthen our Life & Health Sciences business by enhancing Element’s technical expertise, commercial presence and geographical footprint within key pharmaceutical, virology and antimicrobial markets. The broader health sciences market will be a strong growth driver for Element in its next phase of development and when combined with our existing related capabilities in medical device and food testing, we now have almost 15% of the Group operating in these markets,” Jo Wetz, CEO at Element, said. “ALG gives us an important presence in the infection prevention market, supporting our Health Sciences strategy to be a full-service solutions provider in this critical sector. In recent months, Element has been proud to support a number of clients with testing programs related to various aspects of potential COVID-19 vaccines and ventilator safety, demonstrating the wider impact of what we do.”
The transaction was funded out of existing Element Group resources alongside new investments from Element and ALG management, Bridgepoint, and Temasek.