The management team of Biotec Services International, a clinical trial services and supply specialist based in Bridgend, Wales, has acquired the company from its founder, Marc Weinzweig, for an undisclosed sum.
The buyout was led by chief executive officer Keren Winmill with backing from Finance Wales, a fund manager/business angel group formed by the Welsh Assembly Government in 2001 to invest in small to medium-sized enterprises in Wales. It is part of a longer-term expansion strategy targeting turnover of £10 million for Biotec by 2012.
Winmill was appointed CEO in 2009 to spearhead a three-year growth plan, alongside Biotec’s finance director Ravi Nalliah, business development and project management director Fiona Withey, operations director Rachel Griffiths and quality assurance manager Tristram Evans.
The company was founded by Weinzweig in 1997, initially in response to increasing demand for the transportation of biological and pharmaceutical products. With the advent of the European Union’s Clinical Trials Directive in 2004, Biotec rapidly built up its clinical trial management service for pharmaceutical and biopharmaceutical companies.
As part its next phase of growth, Biotec plans to focus on developing new and existing core areas of expertise – Qualified Person services, clinical and commercial supplies, and logistics and storage, with an emphasis on products that require specialist handling – in both new and existing markets.
“We have had a very successful three years, but we’re not resting on our laurels,” Winmill commented. “We have already initiated ambitious plans to develop our team, facilities and scope of services.”