New Ownership to Fuel Further Growth and Innovation at BBI Group
- Date: 18th November 2015
- Company: BBI Detection
The BBI Group (BBI), a trusted partner to many of the world’s leading diagnostic and healthcare organisations, today announced the completion of the acquisition by Exponent Private Equity.
BBI’s new privately owned status will enable independent execution of an ambitious growth strategy, and provide greater freedom to penetrate new and existing markets and territories. Through investment and innovation, the company plans to continue to respond to changing customer needs, and accelerating the delivery of its vision to create exceptional products that people rely on to enjoy a better quality of life.
Commenting on the deal, Group CEO Lyn Rees said: “This acquisition represents a firm commitment to the future growth plan of BBI, with the new ownership backed by a proven track record in the investment of resources for continuous improvement and business growth”.
BBI specialises in diagnostic tests and materials along with consumer healthcare portfolios from its BBI Solutions, BBI Detection and BBI Healthcare entities. This announcement sees the beginning of an exciting new chapter for the company, which celebrates its 30th anniversary next year. With a new owner and investment to fuel innovation and growth, BBI is looking towards a bright future.
Rees added: “We are looking forward to working with Exponent to unlock the company’s true potential as we further strengthen our product portfolio, development and manufacturing capabilities.”
Exponent, a private equity firm focused on ‘the creation of world class UK businesses’ and their newly appointed Chairman for BBI, Alan Peterson, have been part of many success stories including thetrainline.com, Quorn Foods and Radley London.
Founded in 1986, BBI was previously owned by Alere Inc. (formerly known as Inverness Medical Innovations). Headquartered in Cardiff, South Wales, the company employs over 400 people across 10 global sites.