PRINT THIS PAGE

Candover and Bridgepoint in secondaries deal for ALcontrol

Candover has announced the acquisition of European environmental and food testing company ALcontrol from Bridgepoint for an undisclosed sum.

Candover is providing equity finance, with the management rolling over what they describe as a significant proportion of their existing equity holding.

Headquartered in Holland, ALcontrol is a laboratory-based testing business which supplies services to the food and environmental markets. With 1,500 staff it is ranked as the market leader in the UK, Benelux and Sweden.

Simon Leefe, a director of Candover, said, "ALcontrol is an excellent business operating in a market which will continue to benefit from strong growth, as regulators impose increasingly tight standards of health in areas such as food and the environment. The industry is a fragmented one with considerable opportunities for consolidation, and we are backing a management team with a proven record in both organic and acquisitive growth."

Gerard Baalhuis, Chief Executive of ALcontrol, said, "The management of ALcontrol is very pleased to welcome Candover as our new owner. We will have their full support in our ongoing buy and build strategy, which has proven to be very successful. The management of ALcontrol is very committed to further develop the business in Europe, both organically as well as by acquisition, with the prime focus being on France and Germany as well as the UK".

Completion of the transaction is subject to regulatory clearance.

Copyright © 2004 AltAssets