FIRST EXIT FOR TRI CAP

 

TRI Cap’s very first investment, made in 2005, is also its first successful exit: Edinburgh-based Lab901 has been sold to Agilent Technologies for an undisclosed sum.

Lab901's ScreenTape system - a fast and convenient benchtop automated system for the analysis of bio-molecules - has been widely recognised in the life sciences sector and beyond. Lab901’s management team and 45 employees all join Agilent Technologies as part of the deal.  

Commenting on the exit, TRI Cap chairman Rob Dick said:

“This is a significant milestone for TRI Cap members, whose involvement with Lab901 spans six years. It is gratifying to see the business sold successfully to such a significant player and, of course, for our members to receive a return on their investment.”

Lab901 was formed in 2001 and secured an early SMART award. More than £10m in equity funding was raised from investors led by Archangel, and including TRI Cap, Alliance Trust Equity Partners (ATEP), the Scottish Venture Fund and Foresight (previously Noble).

 

END

March 2011

Issued on behalf of TRI Cap by Eileen Prior, PR Consultant.
For further information contact Eileen Prior on 07802 180412, or email priorpr@btinternet.com


Visit www.tricapital.co.uk for more information.


 

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