Endless and Northstar back Excelsyn
Excelsyn, the specialist provider of advanced manufacturing, process technology and consultancy services to the pharmaceutical and biotechnology industries, has laid the foundation for further rapid growth through a co-investment by Endless LLP (‘Endless’), the private-equity and buyout fund, and NorthStar Equity Investors Ltd (‘NorthStar’), the North East England-based fund management company.
The seven-figure investment by Endless and NorthStar will underpin the company’s strategy of becoming a leading provider within the pharmaceutical supply chain. The move will give the group the resources to continue its strong growth record in the UK and internationally.
Excelsyn provides a bespoke service to customers in the highly specialist area of the pharmaceutical and biotechnology sector aiming to deliver dedicated chemistry, engineering and management consulting services. The company’s highly targeted approach and agile delivery offer a unique range of solutions to enhance performance across the whole pharmaceuticals and biotechnology value chain.
Formed by Ian Shott in 2003, Excelsyn is expected to achieve record turnover of £13 million in the year to May 2007, predominantly through its manufacturing and process technology facilities based in Newcastle and Holywell, North Wales. The investment by Endless and NorthStar will help Excelsyn fund its next stage of growth and build on the company’s distinctive competitive position.
Ian Shott, Chairman and Chief Executive of Excelsyn, said: “The timing of the investment by Endless and NorthStar is key to providing the necessary fuel to accelerate the growth of the group. We are committed to invest further in our intellectual property and facilities to provide continually improving services and benefits to our customer base. Both Endless and NorthStar are new organisations with a background of rapid growth and will contribute strongly to the vision and strategy of Excelsyn.”
Aidan Robson, who led the transaction and has responsibility at Endless for investment in North East England, said: “We are delighted to have completed this transaction, which lays a strong foundation for the future growth of the Excelsyn group. We were attracted to the opportunity by the group's growth record and its strong management team led by Ian Shott. Adding our financial strength and strategic assistance to the business will help it take advantage of the excellent market conditions and growth prospects across the UK and internationally.
“Endless has already completed many deals in the regions and we are now looking to expand into the North East market. This is our first Newcastle-based deal and we look forward to completing many more.”
Marion Bernard, who led the deal for NorthStar, said: “Excelsyn is a great example of world-leading, technology-based businesses being developed from the North East of England. It has a fantastic management team with a clear vision, and we are delighted to work with them to help them realise their big ambitions.”
The law firm Walker Morris acted for Endless, with Simon Hardcastle and Peter Considine advising. Management was advised by law firm Dickinson Dees (Simon Watts and Peter Clark) and corporate finance house Quantum Corporate Finance (Chris Appleby). Financial due diligence was undertaken by Vincere Partners LLP (Tony Lumb). Law firm Ward Hadaway (Duncan Reid) advised NorthStar.