NVM invests to combine Cleveland biotech and biological preparations

Deal typeTransaction Services
IndustryLife Sciences

Based in Stockton-On-Tees, Cleveland Biotech (“CBIO”) is a leader in applied environmental biotechnology, developing fermented bacteria for use in a range of biological cleaning and waste management products.

Following BDO’s due diligence role in advising NVM on their £3 million investment in CBIO’s management buy-out in 2013, the BDO Transaction Services team undertook pre-acquisition Financial and Tax due diligence in connection with NVM’s further £3.5 million investment to create an enlarged group combining CBIO and Cardiff-headquartered Biological Preparations group (“BP”). With the benefit of BP’s expertise in the development of biotechnology solutions for a variety of applications (including food & drink, water treatment, agricultural and cleaning), the combined group is the independent UK market leader in biological solutions for commercial cleaning and Food, Oil and Grease management.   

“It was a pleasure to work with the team at BDO Corporate Finance on this deal. The issues were presented in a succinct manner so it was easy to understand what the risks to the financial plan where. It was a true team effort and our partners at BDO worked well with the other due diligence providers making the whole process run seamlessly. We would not hesitate in working with them again or recommending them to others.”         

Mauro Biagioni, Partner, NVM Private Equity LLP