Battery Ventures Acquires TTP Labtech
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Over the last 18 years TTP Labtech has successfully grown an impressive portfolio of automation, instrumentation and consumables products serving the pharmaceutical, biotechnology and academic research markets. The decision to divest TTP Labtech from TTP Group was undertaken to allow for growth and expansion plans.
In partnership with Battery, TTP Labtech will expand their premises on the Melbourn Science Park near Cambridge and will continue its proud tradition of high-quality manufacturing in the United Kingdom. Battery’s additional resources will support increased investment in technology and complementary acquisitions.
“Battery’s investment team has been following TTP Labtech for a number of years and we are excited to have the opportunity to work closely with the TTP Labtech team to continue to build a global player in the large and growing sample preparation and sample management market,” said Jesse Feldman, Battery Ventures general partner. “The combination of TTP Labtech’s product portfolio and the quality of the existing management team is an excellent foundation to continue to build upon.”
“This underpins our ambitious growth plans and enables us to further strengthen our position in the life science market and expand into new application areas. It’s a very exciting time for us as we continue to work with our customers to improve workflows in drug discovery, structural biology, sample management, biobanking and genomics applications” commented David Newble, Managing Director, TTP Labtech.
“This is great news for TTP Labtech’s customers and employees. We look forward to supporting Battery as they continue TTP Labtech’s tradition of excellence in the sample preparation and sample management technology space. TTP Labtech now have a partner to support their growth vision and extend their industry reach through investment in R&D and acquisitions,” said Peter Taylor, Chairman of the TTP Group.