Addleshaw Goddard has advised the shareholders of the independent scientific group Cawood on the disposal to US-based Ensign-Bickford Corporation.
Founded in 2006, Cawood specialises in providing independent laboratory analysis for the agriculture, environmental and infrastructure sectors. The company has over 620 staff operating in 16 locations across the UK and Europe.
The AG team was led by Paul Medlicott and George Danczak and included Gabrielle Cummins, Daniel Rathbone and Emma Johnston.
Headquartered in Denver, Colorado, EBI is a 185-year-old privately held corporation with diversified businesses in aerospace and defence, molecular diagnostics, and food testing markets. It is one of the world’s oldest privately-owned companies. This is its first acquisition since 2018. EBI has acquired Cawood from Waterland Private Equity, which partnered with Cawood in 2019 as part of a buy and build strategy which has seen the company more than double in size.
Paul Medlicott said: "This is a real success story for all concerned. Cawood is a great strategic acquisition for EBI, with which it shares a number of synergies. It also represents a highly successful strategic outcome for Waterland.
"We are delighted to have supported Cawood on its growth journey since 2017 and help secure the successful exit for Waterland and the shareholders."