Date: 2014-01-02
Type of information: Company acquisition
Acquired company: CeeTox (USA)
Acquiring company: Cyprotex (UK)
Amount: £0.63 million (€0.76 million)
Terms: * On January 2, 2014, Cyprotex, a specialist ADME-Tox Contract Research Organisation, has announced the acquisition of the business and assets of CeeTox, a division of North American Science Associates,(“NAMSA”). The initial consideration for the purchase of £0.63 million is funded by internal cash resources, with a further consideration of 5% payable on specified net sales achieved in the next four years to a maximum of £3.1 million. The purchase is made by the group’s US trading subsidiary, Apredica, LLC. The impact of the acquisition is expected to be earnings neutral in the first year. It is expected that Cyprotex will continue to operate the CeeTox business from its Kalamazoo location for a period of time prior to relocation of the business and assets to Cyprotex’s US base in Watertown, MA.
Details: CeeTox, based in Kalamazoo, is a Contract Research Organisation specialising in the provision of in vitro toxicological assays and screening data, principally to the Cosmetic and Personal Care Industries. Founded in 2003, CeeTox was acquired in 2005 by NAMSA, a medical research organisation supplying expert consulting, clinical and laboratory services to medical device, IVD and biologics manufacturers. NAMSA retains a license for applying CeeTox’s in vitro toxicology expertise to medical device testing. CeeTox had sales of approximately £2.3 million in the year ended 30 September 2013 and made an operating loss of approximately £0.9 million.
Related: CRO
