Liverpool Covid testing firm BioGrad Limited could be sold after it appointed a financial advisory firm "to develop its next strategic phase" following a period of "unprecedented" growth.
The Liverpool Science Park-based company, one of the UK's largest testing firms, has appointed Harrogate International Advisory - an organisation providing services in areas such as mergers and acquisitions, joint ventures, management buyouts and IPOs.
With its head office in Liverpool and sites in Bootle, Warrington and Manchester, BioGrad employs over 280 people, and is in line to record an EBITDA of over £10m this year.
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Dr Natalie Kenny, founder and CEO of BioGrad, said: “The company is on a huge growth trajectory and has performed exceptionally well - we are considering options for the future direction of the business.
"We look forward to working with Harrogate International Advisors to help strategically develop the business as we enter into the next stage of our growth.”
Faisal Arif and Sue Wright have been appointed "to support the strategic development of the business and its ongoing growth".
The reason for Harrogate International Advisory's appointment is as yet unknown - but one of the options on the table is to look for a buyer.
BioGrad was set up in 2014 by Dr Kenny as a way to offer laboratory and clinical training to science students, graduate researchers and teachers from across the globe.
It claims to be the UK’s leading laboratory-based learning provider for scientists, attracting elite scientists from 526 institutes in 21 countries per year prior to the pandemic, working in line with the Joint Council for Qualification, AQA, OCR and Edexcel to assess practical science work.
In 2020, the company pivoted in response to the Covid-19 pandemic - and after 18 months of rapid growth - now has capacity to process up to 20,000 tests a day from its North West sites.
