Fast-Growing Liverpool Lab Company Evaluates Multi-Million Pound Sale
A successful Liverpool laboratory company is lining up a potential multi-million pound sale of the business.
BioGrad Diagnostics was set up by owner and chief executive Dr Natalie Kenny in 2014. Based at Liverpool Science Park, the firm was set up to offer laboratory and clinical training to science students, graduate researchers and teachers from across the globe.
In 2019 it attracted elite scientists from 526 institutes in 21 countries. However, after the COVID-19 pandemic hit in early 2020, BioGrad pivoted towards COVID testing and has since seen significant growth with EBITDA (a measure of profitability) expected to exceed £10m this year.
From its head office in Liverpool, BioGrad operates sites in Bootle, Warrington and Manchester, employing more than 280 people. It is accredited by UKAS, the independent UK Accreditation Service responsible for determining the technical competence and integrity of organisations offering testing, calibration and certification services.
It invested £2m setting up the 7,500 sq ft Bootle operation, which opened in June this year at St Hugh’s House in Stanley Road. In August it was revealed Dr Kenny was one of 22 Liverpool city region entrepreneurs on the shortlist for the 10th Enterprise Vision Awards which celebrate female entrepreneurship across the North West.
Dr Kenny said:
“The company is on a huge growth trajectory and has performed exceptionally well – we are considering options for the future direction of the business. We look forward to working with Advisors to help strategically develop the business as we enter into the next stage of our growth.”
Profits from BioGrad’s diagnostics arm are being reinvested back into the business to fund further development and growth, including its bursary scheme, which supports students from disadvantaged backgrounds with their course fees.
For more information on Biograd Diagnostics click HERE.