Inspicio to buy Eclipse food, pharma test lab

London --Inspection and testing group Inspicio plc is paying up to £50 million to acquire Eclipse Scientific Group Ltd, an independent food and pharmaceutical testing laboratory. The acquisition includes a further payment of up to £3 million payable to Eclipse MD Julie Dedman, depending on its future performance, Inspicio announced 18 July.

“By acquiring Eclipse we plan to build a global food testing business on Inspicio’s existing laboratory infrastructure that will service this growing demand, and create a platform to further consolidate the industry,” said Inspicio CEO Mark Silver.

The global food and pharmaceutical testing market is estimated to be worth £540 million and is growing at approximately 20% CAGR, but it is fragmented, according to the Inspicio boss.

Chatteris, Cambs-based Eclipse’s food testing business currently achieves profit margins of 22% in a market that is expected to grow at about 20% per annum, said Inspicio. The firm, it added, is well established in the UK and Republic of Ireland food, pharmaceutical, water, environmental, agrochemical and animal feed industries.