Livingstone\u2019s Global Industrial Group has advised Smiths Group plc, a global leader in applied advanced technologies, on the divestiture of Specac Limited, a scientific instrumentation accessories business.<\/p>
Members of the Specac executive team have partnered with Foresight Group to acquire the company.<\/p>
Specac, based in Orpington, Kent, is a leading manufacturer of high specification sample analysis systems and sample preparation equipment for use in Life Sciences, Pharmaceutical, Environmental, Quality Control & Research laboratories around the world. The company\u2019s products are primarily focused on supporting Infrared Spectroscopy, an important analytical technique prevalent in both research and commercial-industrial labs. Having concluded that Specac was non-core to Smiths\u2019 portfolio, it was recognized that the business\u2019s potential would be best realized by a new partner and Livingstone was appointed to advise on the divestiture. The team ran a global process and offers were obtained from a mix of trade buyers and financial sponsors Ultimately, Foresight was selected based on the attractiveness of its proposal and its compelling strategy for the development of Specac as an independent business.<\/p>
Eric Lakin, Corporate Development Director, Smiths Group<\/strong> commented: \u201cLivingstone\u2019s network reach, expertise in the test and measurement sector and rigorous transaction management skills led to a successful outcome for all parties.\u201d<\/em> David Smith, Managing Director, Specac,<\/strong> commented: \u201cWe are delighted to partner with Foresight Group; the team at Specac believes there to be huge opportunities for growth and improvement, building upon our key strategy of innovating with high specification, high quality products that meet our customers\u2019 needs.\u201d<\/em><\/p> Graham Carberry, Director at Livingstone,<\/strong> commented: \u201cThe management team at Specac has developed a unique and very compelling product set. In Foresight, we believe they have the ideal partner to help them achieve the company\u2019s full potential. Our Global Industrial Team is delighted to have delivered a successful outcome for Smiths\u2014a true world leader in its markets\u2014as well as advising on our 4th recent transaction in the Test, Measurement and Control and Laboratory Equipment sectors.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"featured_media":3020,"template":"","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"client-type":[],"region":[],"sector":[],"service":[],"transaction-type":[],"class_list":["post-8473","transaction","type-transaction","status-publish","has-post-thumbnail","hentry"],"acf":{"team_members":"","date":"20150421","client_type":41,"type":[1105],"region":[375],"services":[434],"sectors":[637],"related_transactions":"","related_testimonials":[49193],"contacts":""},"yoast_head":"\n