BGL Announce Sale of Source BioScience’s Stability Storage Business to Limerston Capital

Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Source Stability Storage, a UK-based biotech storage facility owned by parent company Source BioScience, to Limerston Capital, a London-based middle market private equity investment firm. Source Stability Storage will be renamed Astoriom. BGL’s Healthcare & Life Sciences investment banking team served as the exclusive financial advisor to Source BioScience in the transaction. The specific terms of the transaction were not disclosed.

Limerston Capital will use the business to pursue a biorepository expansion strategy under the name of Astoriom.

Headquartered in Rochdale, England, with a strong presence across Ireland and the U.S., Astoriom specialises in providing outsourced temperature and humidity-controlled environment storage services for stability trials, retained samples and long-term storage of biologic samples. The company offers storage, manufacturing, service, and validation solutions for pharmaceutical and biotechnology companies, contract manufacturers, and analytical testing companies worldwide.

Astoriom’s partnership with Limerston Capital will allow it to concentrate on its biorepository operations as its core growth area, positioning it for further growth in pharmaceutical and biologic markets. Astoriom aims to expand its presence in the U.S. and European markets through a buy-and-build approach.

BGL’s Healthcare & Life Sciences investment banking team has decades of experience advising companies across the diagnostics, research tools, lab equipment and services, and outsourced pharmaceutical services landscape. We have provided capital formation, technology strategy, corporate ventures, and M&A strategy for a wide range of companies. Additionally, we maintain active relationships with global industry participants and capital providers, and closely follow regulatory and reimbursement trends.

Leave a Reply

Your email address will not be published. Required fields are marked *