Caledonia has acquired a minority stake in BioAgilytix, the US-based pharmaceutical services business specialising in bioanalytical testing solutions for biologic molecule research and development.
Caledonia is investing alongside Cobepa, the Belgium and US-based investment company, which is the majority shareholder in BioAgilytix. Caledonia has a 5% shareholding in Cobepa.
BioAgilytix has offices in Raleigh, North Carolina and Hamburg, Germany and employs over 250 staff.
This investment fits well with Caledonia’s model of investing in established businesses with good growth potential along with strong cash generation, supporting a progressive dividend policy.