KBS Corporate Advised on the Acquisition of Reschem Analytical Limited
Reschem Analytical Limited is a responsive, client-focused, GLP-accredited analytical laboratory, which specialises in pesticide residue analysis, conducting a wide range of regulatory studies for the registration of plant protection products for clients throughout the UK and internationally. ResChem was founded in 2014 and commenced trading, quickly establishing itself within its sector and building up relationships with new clients. The company has a respected reputation and extensive experience in the field of pesticide residue analysis covering a wide range of active ingredients and associated metabolites.
The shareholders of ResChem instructed KBS Corporate with the sale of their business to secure and scale the business whilst building towards their retirement plans.
The company attracted 47 interested parties, with interest coming from the UK and overseas trade and private equity firms. KBS Corporate was able to utilise these high levels of interest to generate a competitive bidding environment with ten offers. The ultimate offer came from US-based The Smithers Group Inc, which has a global presence with sites in North America, Europe, and Asia.
Luke Rae, KBS Corporate Deal Executive advised Reschem Analytical throughout the process and explained the impact of the acquisition: “This acquisition enables Smithers to expand the scope and breadth of its global pesticide residue offering and build its field co-operators network to conduct field trails in support of crop residue operator exposure studies. The acquisition includes the ResChem Analytical Limited operations, including offices and laboratories at the headquarters in Derby, United Kingdom. ResChem has a respected reputation and extensive experience in the field of pesticide residue analysis covering a wide range of active ingredients and associated metabolites.”
Derek Brown and Gareth Watson, ResChem’s Co-Founders, and a scientific team with decades of collective expertise and experience will continue to lead ResChem as a Smithers company under the strategic direction of Dr. Sharon Swales, Managing Director, Smithers Harrogate Environmental Risk Sciences laboratory.
Derek Brown comments: “We are excited about this new chapter for ResChem. As a Smithers company, we will be able to scale the business so we can continue to provide high quality studies and support to our clients as their needs grow.
Gareth Watson adds: “ResChem has built a strong reputation in Europe, the United Kingdom, the United States, and Japan. We anticipate this acquisition can facilitate the expansion of our geographic footprint into other regions of the world.”
Michael Hochschwender, Chief Executive Officer, Smithers states: “ResChem Analytical is an exciting addition to Smithers because we share a steadfast commitment to a client-first culture. We believe the ResChem Analytical culture of building trusted relationships is consistent with Smithers strategy of delivering accurate data, on time, with high touch.”
Susan Shepherd, Group President comments: “Smithers appreciates the team at KBS Corporate for bringing this opportunity forward. We value our trusted partners who support Smithers M&A activities. This deal is particularly important because ResChem Analytical significantly enhances Smithers global pesticide residue offering by expanding our capacity, capabilities, expertise, and network of field co-operators, which greatly benefits our global clients in the crop protection sector.”