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Chicago-Based Celsis International PLC  (CEL.L) Goes Private


10/12/2009 8:09:02 AM

CHICAGO, Oct. 9 /PRNewswire/ -- Chicago-based Celsis International, a leading global life sciences company, announces today that it has completed its public-to-private transaction process and will de-list from the London Stock Exchange (LSE) and operate as a privately held company.

"Celsis has a very strong track record of consistent revenue and mid-teens profit growth, yet our strong financial results were not being reflected in our share price," explains Jay LeCoque, CEO of Celsis. "It is important to our future--both to our large customer base and to our employees here in Chicago and around the world--that we are able to continue to invest in and grow the business. Going private allows us the ability to focus more on our long term strategic growth opportunities." Celsis has been acquired by UK-based private equity firm JO Hambro, which has retained Mr. LeCoque and Christian Madrolle, Celsis' CFO, in their current management and Board positions.

Founded by serial entrepreneur Sir Christopher Evans, Celsis was floated on the LSE in 1993 and was a member of the techMARK Mediscience index. Named best performing share in 2003, the company consistently posted mid-teens profit growth numbers and has been profitable since 2001.

Celsis products and services deliver substantial time and cost savings to major pharmaceutical and consumer product companies while ensuring product quality and safety for consumers. Its customers include all of the top 25 pharma companies and Fortune 50 consumer product companies. Celsis employs 40 people in Chicago and another 200 worldwide. Its divisions include: Celsis Rapid Detection, the world leader in rapid microbial testing for industry; Celsis Analytical Services, providing cost effective analytical laboratory testing services to pharmaceutical and consumer product manufacturers; and Celsis In Vitro Technologies, a pioneer and leader of in vitro ADME-Tox products used to reduce the cost of drug discovery and development.

More information is online at celsis.com.

SOURCE Celsis International

CONTACT: Jay LeCoque, CEO or Robyn LaLonde, Executive Assistant to CEO,
both of Celsis International, +1-312-476-1200

Web site: http://www.celsis.com/


Read at BioSpace.com

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