Private equity firm Limerston Capital has completed the acquisition of Gosport-based laboratory Wickham Micro and appointed industry veteran Mark Hammond as its CEO. The acquisition of the laboratory is part of a wider growth plan.
Wickham Micro has provided microbiology and in-vitro toxicology services to the pharmaceutical and medical device sectors for almost 60 years. The team works with global brands to deliver comprehensive testing services, for the safe and efficient release of their products.
As part of the acquisition, a separate entity for the (in-vivo) toxicity testing part of the business has been created and will remain under the control of the previous owners as will the real estate.
Hammond joins from PBD Biotech and has held senior roles within both private and public companies, including Melbourn Scientific, Intertek and Aesica Pharmaceuticals.
Mark Hammond, CEO for Wickham Micro, said: “The team at Wickham Micro has built up a reputation for excellence and quality, providing a wide range of services to an impressive client list. There is a clear opportunity to use the business’s success to date as a platform for further growth and we are looking forward to increasing our capabilities over the coming months and years.”
William Cartmell, founder of Wickham Laboratories added: “It has been a pleasure to work with the Limerston team and I am confident the business is in safe hands. Under Mark’s stewardship, the micro side of the company will be given the opportunity to grow and develop, whilst retaining the values the business was founded on.”
Limerston Capital has recognised and responded to the continued growth of the pharmaceutical and medical device testing markets, with the latter worth approximately $10 billion. The business has signalled ambitions to develop its portfolio and is exploring further acquisitions, with Hammond poised to oversee the group.
Joao Rosa, founding partner, Limerston Capital, added: “The acquisition of Wickham Micro represents an important milestone for us and is an example of a business with strong fundamentals and potential for significant growth. We are confident that Mark will help drive plans forward with clear leadership whilst we consider further opportunities to strengthen our foothold in the pharmaceutical and medical device testing markets.”
