Thursday, November 12, 2009

News: ALcontrol agrees financial restructuring


Laboratory and testing company, ALcontrol has been taken over by GSO Capital Partners LP in a restructure that will provide the firm with a strong financial foundation from which it can further build its market leading position.

The deal will see GSO become the majority shareholder and extend certain new debt financing to provide the company with significant liquidity. The new funding will be put towards laboratory and customer service related investment as well as working capital.

Specialising in environment and food testing, ALcontrol Laboratories is one of the largest testing organisations in Europe. In the UK, ALcontrol has a turnover of £31 million and tests approximately 2 million samples per year. It has a facility in Templeborough, Rotherham.

ALcontrol's CEO Simon Gibbs said: "This is a significant milestone for ALcontrol and will allow us to put all our efforts into continued operational improvements and growing our business outside our traditional areas.

"When the new financial structure is put in place, ALcontrol will have one of the strongest balance sheets in our industry and will be backed by investors with significant resources. GSO, as our lead investor, shares the company's ambitions for growth and industry consolidation."

GSO Capital Partners LP were bought by American investment company, Blackstone in 2008.

ALcontrol website


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