LABORATORY supplies firm Gem Scientific has snapped up its second acquisition of the year. Legal advice for Natwest was provided by our corporate team.
With the backing of investment partner Solingen Private Equity, the company has bought Northern Balance, a Gateshead firm specialising in weights and calibration for an undisclosed sum.
It will become part of the Gem group with immediate effect. Northern Balance was founded in 1971. The acquisition will allow Leeds-based Gem to expand its calibration business.
The firm recently acquired a business a little bit closer to home in the from of Yorkshire Scientific Instruments, a repair specialist.
Gem has ambitious growth plans to service the growing life sciences, food and beverage, pharmaceutical, education, manufacturing and medical technology sectors across the UK and Ireland.
Justin Welton, managing director of Gem Scientific said "The acquisition furthers our growth strategy in the UK, and marks another significant step forward for Gem Scientific. Once again, the expertise of the team and the reputation of Northern Balance were critical aspects of the acquisition.
"This is a great opportunity for our two companies to utilise their respective expertise. It will improve our product and service offering for all clients whilst enhancing our local and national presence whilst continuing our excellent customer service across the group."
Hayden Rouse, managing director of Northern Balance added, "We believe that by joining the Gem Group, we can deliver greater value to our customers while being in a better position to expand and develop new customer relationships.
"Gem brings a broader portfolio of products and services to our customers. As a much larger organisation with a good reputation within the industry, Gem will also provide our employees with greater opportunities for career advancement and development. We expect this to be a very successful partnership."
Gem Scientific was advised by the Leeds Office of Schofield Sweeney, led by corporate partner Adrian Ballam and Solicitor Catherine Umpleby
Mr Ballam commented, "It was a pleasure to advise the team at Gem on this acquisition, which clearly complements the existing business as well as presenting new possibilities for growth."
Continued banking support to the Gem Group was provided by NatWest Bank through relationship director David Smithies. NatWest received legal advice from Clarion Solicitors in Leeds.
This article was published in the Business Desk on Tuesday 29th November 2016.