BUSINESS ADVISERS AID IN THE SALE OF A LIVINGSTON BASED FIRM
Wylie & Bisset, Accountants and Business Advisers, has advised Livingston-based laboratory equipment and support specialists C&M Scientific on its sale to Scientific Laboratory Supplies (SLS), a supplier of equipment, chemicals and consumables for laboratory use in the UK.
C&M Scientific provides engineering support and consultation throughout Scotland and the North of England, helping clients maintain their research platforms and adhere to accreditation standards, offering ongoing maintenance and support for a wide range of laboratory equipment and world-leading brands.
Gerald McLaughlin (pictured above), Head of Corporate Finance at Wylie & Bisset, said: “We were delighted to advise the sellers of C&M Scientific, together with its fellow group company, Biostore UK, and work with the shareholding directors from an early stage, to ensure the optimum structure ahead of any sale process.
This sale sees C&M Scientific remain committed to continue operating from Central Scotland.”
Stuart Cameron, founder and seller of C&M Scientific and Biostore, said: “Having decided it was time to sell my companies, I appointed Wylie & Bisset to guide me through the processes. Gerald McLaughlin went to work on putting together a detailed analysis and package on my business and immediately started setting up meetings with the potential buyers.
Following discussions with a number of parties, a share purchase agreement was negotiated with the preferred bidder which had many technical components and involved legal teams on both sides. Gerald was the captain of the ship and kept everyone on course and moving forward.”
He added: “I underestimated what would be involved in selling my business. So many things could have gone wrong, and I am therefore thankful that I engaged the professional services of an experienced accountant specialising in business sales and that he was there to manage this entire process from start to finish.”
C&M Scientific will continue to trade under its current name, retaining all employees and management, whilst harnessing SLS’s business support and infrastructure to add value for all parties, stakeholders and customers from life science, NHS, biotechnology, pharmaceutical, R&D & academic communities.
As part of the acquisition, SLS is also acquiring Biostore UK, a biobanking business that delivers ULT and low temperature sample storage facilities to biotechnology and pharmaceutical customers.