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Huntingdon and Harlan announce new equity funding
Jul. 21, 2015
Envigo
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United Kingdom
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Huntingdon Life Sciences (HLS) and Harlan Laboratories, soon to be called Envigo, announce that a group of institutional investors has committed up to $125 million in a minority equity financing that can be used to fund future growth initiatives.
Brian Cass, CEO, commented: “We recently announced our rebranding of the Company to Envigo as we complete the integration of HLS and Harlan to broaden the support we provide to life science research. This equity investment of up to $125 million validates the success of that integration and further strengthens the Company’s balance sheet to pursue additional organic and strategic investments. We look forward to leveraging the resources of the investor group as we continue to grow Envigo and enhance our market leading position.”
The new Company is a leading provider of non-clinical contract research, research models, products and services to the pharmaceutical, crop protection and chemical industries, universities, government, and other research organizations. At the official launch of Envigo in a few months’ time the Company will have 3,800 employees and revenue of approximately $500 million. It will be the largest provider of research services to the crop protection and chemical industries, the second largest supplier of research models and services, and the third largest provider of preclinical research services to the pharmaceutical industry.
Source: BioSpace
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