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LGC acquires Toronto Research Chemicals, strengthening its presence in the reference standards market
LGC has announced the acquisition of a majority stake in Toronto Research Chemicals (“TRC”), a leading manufacturer and supplier of synthetic organic bio-chemicals which are used as reference standards, research tools and building blocks by a highly diversified global customer base across the pharmaceutical, applied and research sectors.
TRC has a leading market position supported by an extensive product portfolio with over 46,000 compounds held in inventory and a wide breadth of synthetic and analytical chemistry capabilities. Founded in 1982 by David and Charles Dime, TRC has over 375 employees and operates from c.120,000 square foot of space across two manufacturing sites in Toronto.
The acquisition of TRC complements LGC’s existing reference standards business, which includes the MikromolTM and Dr EhrenstorferTM product portfolios, and provides commercial and operational opportunities to develop the combined product and service offering to customers globally.
TRC’s Chief Executive Charles Dime will remain a significant shareholder alongside LGC.
Euan O’Sullivan, Managing Director, LGC’s Standards division, said: “We are delighted to partner with TRC to deliver the next phase of growth in the business and expansion of capabilities in Toronto. We have enjoyed a long and successful relationship with TRC and this transaction strengthens our presence in the reference standards market, in particular in North America and Asia Pacific, as well as our ability to serve pharmaceutical and biotech customers. As we start combining our teams, we look forward to providing an extended portfolio of reference standards, research tools and building blocks to our customers around the world.”
David and Charles Dime, Co-Founders, TRC, said: “We are excited to be partnering with LGC and continuing to provide our customers with high quality products and services. Over the years, we have built a strong reputation as a supplier of choice for customers globally and look forward to strengthening our capabilities and product offering alongside LGC.”
TRC was advised by Cain Brothers, a division of KeyBanc Capital Markets, Perella Weinberg Partners, Dentons and Torys. LGC was advised by PwC and Torkin Manes.
LGC is a global life sciences tools company serving customers across human healthcare, applied and research & government sectors. LGC provides a comprehensive range of reference materials, proficiency testing schemes, genomics reagents and instrumentation, as well as research and measurement services.
LGC’s 2,800 employees include internationally-recognised scientists who are experts in their field. Headquartered in London, it operates out of 19 countries worldwide and is extensively accredited to quality standards such as GMP, GLP, ISO 13485, ISO 17034, ISO 17043, ISO/IEC 17025 and ISO 9001.
LGC has been home to the UK Government Chemist for more than 100 years and is the UK National Measurement Laboratory and Designated Institute for chemical and bio measurement. LGC has been privately-owned since 1996 and has diversified through internal investment and acquisition to be an international leader in its chosen niche markets. LGC is owned by funds affiliated with KKR.