BGL Announces the Sale of Source BioScience's Stability Storage Business to Limerston Capital

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Jan 17, 2024, 13:54 ET

Limerston Capital will use the business to pursue a biorepository expansion strategy under the name of Astoriom

CHICAGO, Jan. 17, 2024 /PRNewswire/ -- Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Source Stability Storage, a UK-based biotech storage facility owned by parent company Source BioScience, to Limerston Capital, a London-based middle market private equity investment firm. Source Stability Storage will be renamed Astoriom. BGL's Healthcare & Life Sciences investment banking team served as the exclusive financial advisor to Source BioScience in the transaction. The specific terms of the transaction were not disclosed.

Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Source Stability Storage, a UK-based biotech storage facility owned by parent company Source BioScience, to Limerston Capital, a London-based middle market private equity investment firm. Source Stability Storage will be renamed Astoriom. BGL’s Healthcare & Life Sciences investment banking team served as the exclusive financial advisor to Source BioScience in the transaction.

Headquartered in Rochdale, England, with a strong presence across Ireland and the U.S., Astoriom specializes in providing outsourced temperature and humidity-controlled environment storage services for stability trials, retained samples and long-term storage of biologic samples. The company offers storage, manufacturing, service, and validation solutions for pharmaceutical and biotechnology companies, contract manufacturers, and analytical testing companies worldwide.

Astoriom's partnership with Limerston Capital will allow it to concentrate on its biorepository operations as its core growth area, positioning it for further growth in pharmaceutical and biologic markets. Astoriom aims to expand its presence in the U.S. and European markets through a buy-and-build approach.

BGL's Healthcare & Life Sciences investment banking team has decades of experience advising companies across the diagnostics, research tools, lab equipment and services, and outsourced pharmaceutical services landscape. We have provided capital formation, technology strategy, corporate ventures, and M&A strategy for a wide range of companies. Additionally, we maintain active relationships with global industry participants and capital providers, and closely follow regulatory and reimbursement trends.

About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, capital markets, financial restructurings, business valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, Los Angeles, and New York, and real estate offices in Chicago, Cleveland, and San Antonio. The firm is also a founding member of Global M&A Partners, enabling BGL to service clients in more than 35 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, LLC, an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com.