London and Southeast law firm Moore Barlow has advised the shareholders of Powys-headquartered CellPath on the sale of CellPath Holdings Limited’s entire issued share capital to American manufacturer of medical diagnostic equipment, StatLab Medical Products, an Audax Private Equity and Linden Capital Partners portfolio company.
CellPath provides key products and services to the cellular pathology markets worldwide. The acquisition expands StatLab’s reach into Europe for the first time and adds injection molding manufacturing to its capabilities.
Roger Bailey, partner in the corporate team at Moore Barlow, said: “Both CellPath and StatLab are at the forefront of supplying state-of-the-art modern medical consumables and equipment to Cellular Pathology labs. Their work ensures vital innovation throughout the sector. The two businesses complement each other’s propositions, and this is an exciting acquisition which will allow both to learn from each other’s specialties, expand their reach and grow across the globe so more people can benefit from their expertise.”
Philip Webber, Managing Director at CellPath, commented: “StatLab is an excellent fit for us. Their US market access and business infrastructure will help jointly expand customer access to products and services as a global market leader. We also appreciate their leadership commitment to ensure we maintain the high levels of service and quality that our family’s business is known for as we partner as one organization.
“It’s a huge milestone which couldn’t have been achieved without the support Roger Bailey, Kirsty Bowyer and the Moore Barlow team who helped to ensure the acquisition, a complex process at the best of times, went smoothly.”
CellPath was founded in 1969 by Peter Webber as a histology consumables company known as Bethlehem Instruments, and quickly expanded into equipment. The company will continue operating in the same locations and under the existing leadership structure to prevent any business disruption.
Regent Assay provided financial advice to the CellPath shareholders. Ian Bussey, who led the Regent Assay team, commented: “I was delighted that we were able to deliver a great deal for the Webber family and as usual, it was a pleasure to work with Roger Bailey and his team at Moore Barlow. CellPath was my final deal as part of Regent Assay and it was a great way to sign off”.
ENDS
About StatLab Medical Products
Founded in 1976, StatLab Medical Products is leading the way in development and manufacturing of high-quality histology, cytology and immunohistochemistry diagnostic products. We partner with anatomic pathology laboratories to provide easy access to over 3,500 high-quality diagnostic products and equipment at excellent prices, delivered with expert support. When you work with StatLab, we’re on your team, and you’re part of our family. Learn more at StatLab.com.
About CellPath Ltd.
CellPath Limited is a UK-based company, specializing in the manufacture and worldwide supply of products, consumables and services to the Cellular Pathology sector. The CellPath name is synonymous with innovative, well-proven products, manufactured to a very high standard. With an in-house state of the art injection molding capability, they manufacture many of the plastic products that are used in the modern Histology and Cytology laboratory, and their ability to sell direct from manufacture to the end user enables cost-saving without compromise on quality and service.
Contact:
Elizabeth Highfield, Citypress
Elizabeth.Highfield@citpyress.co.uk | moorebarlow@citypress.co.uk
0161 235 0362
