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Bio-tech firm is sold
10:00pm Wednesday 27th February 2013 in News
A MALVERN based bio-tech company believes its sale to a global company will open up new markets.
Microbial Developments, based in Spring Lane North, has been sold to Canadianbased animal feed additives supplier Lallemand by its owner Tim Nelson.
Mr Nelson will be continuing in the role of managing director and said: “This is good news for our employees and customers, and Lallemand’s global distribution network will complement our existing distribution to open new markets around the world.”
He was advised on the sale by corporate finance and tax specialists at accountants, Bishop Fleming, and solicitors, Harrison Clark. James Finnegan, corporate finance partner at Bishop Fleming, said: “We were delighted to have been part of this latest transaction which will sustain a valuable business and employer in Worcestershire.”
Microbial’s operations will now be added to Lallemand’s existing plants in the USA, France, and Canada.