Excelsyn

Growth Capital

Excelsyn is a pharmaceutical services company, providing a broad range of cost-effective process chemistry solutions from lab to plant scale to the pharmaceutical industry. 
Excelsyn works with biotech, pharmaceutical and fine chemical companies worldwide helping customers progress compounds across pre-clinical, clinical and commercial phases by providing small molecule synthesis, scale-up solutions and support services. 

The company had 60 employees and operated from a 14 acre site in North Wales at the time of our investment.  Endless acquired a minority stake in Excelsyn in April 2007 alongside NorthStar (who invest on behalf of the North East Co-Investment Fund), who co-invested with Endless on the deal.

Endless worked closely with management, refocusing the business onto its profitable and high growth chemicals division.  This involved exiting the company’s historic engineering and consultancy arms, rationalising the existing work force, securing new lending and assisting in driving the growth strategy of the business.   

By focusing on speed of delivery and quality of service, the business was able to increase its average project size from c£15,000 at acquisition to over £100,000 in 2009 and was seen as a key strategic partner to many of the world’s largest pharmaceutical companies.  

As a hands-on active investor, we were able to provide Excelsyn with resource and experience to help it achieve its growth ambitions. By 2009, the business had delivered an annual turnover of £12 million and EBITDA of £2 million, with future prospects looking very strong.

In late 2009 Excelsyn was approached by Albany Molecular Research, Inc. (“AMRI”), a market leading provider of scientific services, products and technologies focused on the pharmaceutical industry.   AMRI was attracted to Excelsyn due to its ability to expand AMRI’s portfolio of development and large scale manufacturing facilities as well as its customer portfolio.  The proximity of Excelsyn’s business to European customers was also seen by AMRI as a key strategic move which would enable it to increase its European customer base by being able to perform work in close proximity to companies previously reluctant to work with a long distance provider.

AMRI acquired Excelsyn for £12million in February 2010, delivering a market-leading return for Endless on its initial investment. 

“Endless and NorthStar showed outstanding initiative in backing Excelsyn in 2007 when others would not, and their courage and foresight have been well rewarded.”

Ian Shott,  CEO of Excelsyn - Feb 2010