Wolverhampton- firm Direct Laboratory Services has been bought by Eurofins Laboratories, a UK subsidiary of quoted French company Eurofins Scientific, for an undisclosed sum.
Direct Laboratories managing director Peter Bassett said the decision to join Eurofins was fuelled by the desire to grow the company at a faster pace than was possible alone.
The deal was advised by Malcolm Cook and Andy Kay of PKF Corporate Finance in Birmingham and Paul Bennett and Susheel Gupta of George Green Solicitors.
Direct Laboratories was created as a result of the management buyout of ADAS Laboratories, a division of ADAS Consulting, in August 2002, by a team led by Peter Bassett, technical director Keith Henderson and finance director Clive Hodges.
The company provides specialist testing and research facilities for the food, farming and environmental management sectors.
A delighted Mr Bassett said: "The combination of Direct Laboratories' reputation for research, quality testing, and customer service throughout the food supply chain, together with Eurofins' current infrastructure of laboratories in the UK, international resources and investment opportunities, will allow us to provide an even better service to our customers."
He said the move also meant enhanced career opportunities for the 100 plus staff at the £5 million turnover company. Eurofins has over 2,000 staff in more than 40 laboratories across 15 countries and a portfolio of more than 10,000 analytical methods for proving the authenticity, origin, safety, identity and purity of biological substances.
PKF corporate finance partner Malcolm Cook said: " Having advised Direct Laboratories on the original management buyout in 2002 we have continued to provide support and advice to Peter Bassett and his team.
"Joining the Eurofins group will now give Direct Laboratories the opportunity to further develop its quality services with the backing of a significant player in the European market."
