SL Pharma Labs Inc. has been sold to Scotland-based Exova Group PLC.
Financial details were not disclosed.
SL Pharma Labs, based near Wilmington provides product development laboratory and clinical manufacture services to pharmaceutical, biotechnology and medical device companies.
Services include formulation development, process development, analytical development, microbiological development, clinical manufacture and stability testing. The company specializes in the development and clinical manufacture of parenteral, ophthalmic, intranasal and topical drug products.
“Becoming part of a global testing and advisory business with its commitment and plans to continue to expand in the pharmaceutical sector is a great move for SL Pharma, our team and our customers as it gives us access to additional testing capabilities and expertise to significantly expand our CMC product development capabilities,” SL Pharma President Waheed Sheikh said. “I look forward to working with Exova to continue to grow the business and take the SL Pharma name and reputation to exceptional new levels.”
Exova Group, headquartered in Edinburgh, Scotland, is one of the world’s leading providers of testing, calibration, and advisory services.
The company has about 4,200 employees in 33 countries worldwide and is publicly traded on the London Stock Exchange.
Exova specializes in testing across a number of sectors ranging from aerospace to fire and building products; oil and gas and Industrials; infrastructure & environment; transportation; and health sciences.
“This acquisition significantly enhances our technical expertise and service offering within the pharmaceutical market and complements our existing testing facilities in North America,” said Dr. James R. Scull, Exova vice president, Health Sciences Americas. “The addition of SL Pharma to our portfolio is a clear demonstration of our commitment to developing our pharmaceutical business by expanding our testing capabilities to meet CMC product development and the rapidly growing need for Phase I and II clinical supplies manufacture.”
Generational Equity Executive Managing Director Ed Weber established the relationship with SL Pharma, and Generational Equity Managing Director Douglas Smith’s team, headed by affiliate Peter Pryor and supported by Generational Equity Vice President Musa Jagne, led the deal to closing.
“SL Pharma was seeking a partner that would provide a foundation to grow the business to new heights while maintaining the Company’s high quality standards,” said Jagne. “We found in Exova, a partner that not only recognized the value of SL Pharma and its people, but also demonstrated a commitment to excellence worldwide.”
Generational Equity, part of the Generational Group headquartered in Dallas with over 200 professionals located throughout North America, helps business owners release the wealth of their business by providing merger, acquisition and strategic growth advisory services.
