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KKR Agrees to Buy LGC

NEW YORK (GenomeWeb) — Investment firm KKR announced Tuesday that it has agreed to acquire life sciences measurement and testing company LGC for an undisclosed amount from current owner Bridgepoint.

Over the past five years, London-based LGC has acquired 12 companies and revenue has risen from £130 million ($195 million) in 2010 to £222 million in 2015($333 million), the companies said in a statement. Among those acquisitions was the purchase earlier this year of Biosearch Technologies, a Petaluma, California-based manufacturer and supplier of custom oligonucleotides and associated reagents for the medical diagnostics, research, and applied markets.

LGC plans to continue developing its business, particularly in the US and Asia, the firms said.

KKR currently owns 94 companies including many in the healthcare industry.

"The last five years have seen LGC grow internationally, organically as well as through acquisitions, with the ongoing support of Bridgepoint," said LGC CEO Tim Robinson in a statement. "We will continue to embrace 'Science for a Safer World' with KKR as our new shareholder to build on the product, service, sector, and geographic leadership we have today. We have ongoing, exciting growth opportunities across our entire business that will strengthen our solutions to our existing customers and help us expand into new markets and geographies."