Squire Patton Boggs has acted for NVM Private Equity on a £10 million investment into Yorkshire-based YorkTest Laboratories Limited.
Corporate partners Paul Mann and Hannah Crosland, assisted by associate Josh Lodge, advised NVM on the transaction.
NVM is an independently owned investor with over 30 years’ experience of investing in the UK SME market. It partners with ambitious UK management teams to help them accelerate their growth and build successful businesses.
YorkTest is a leading health and wellness company with over 40 years of excellence and scientific expertise in the provision of ‘home to laboratory’ tests in the UK and US, with an historic focus on food intolerance and allergy testing. The company operates in a rapidly growing market with revenues having grown significantly over the last two years, which reflects a growing awareness of health, nutrition and wellbeing and the trend towards increased home testing.
The investment from NVM is to be used to enable the firm to expand its current product range targeting the launch of 10 new home health tests this financial year, invest in more laboratory equipment, and continue its expansion into new markets, including the US market, which currently represents a very small proportion of the overall sales.
“We’re delighted to have supported NVM on this investment in YorkTest, and to have advised on an investment into a local Yorkshire business,” said Hannah Crosland. “Technology, laboratory capabilities, consumer behaviour and expectation continue to impact the broader healthcare sector and our team is particularly experienced in advising on investment projects in dynamic and evolving markets.”