Lab software business acquired by Canadian firm
The Genial Group – the Chester-based group which is a market leader in laboratory software – has been acquired by Harris, part of the Canadian company Constellation Software Inc. Dow Schofield Watts advised the Genial shareholders on the deal and introduced the company to the buyer.
Genial’s software is widely used across genetics, pathology and other healthcare disciplines, with more than 35,000 user licenses in use in over 40 territories worldwide.
The group consists of two arms. Genial Genetic Solutions produces Shire and iGene, which are genetics laboratory information management systems (GLIMS) while Genial Compliance Systems produces iPassport, an eQMS document control and compliance management system.
The business was founded in 2001 by Lawrence Crees, the current Managing Director, with the current products launched in 2009. The deal will provide an exit for Mr Crees and other shareholders and allow Harris to expand its mission-critical software presence in the UK.
Lawrence Crees comments: “We are convinced Harris is the best home for Genial Genetics and Genial Compliance, having industry-leading best practices, strong financial resources and global coverage to help grow the businesses sustainably.”
James Curtis, Associate Director at Dow Schofield Watts, worked on the deal, with the entire transaction conducted remotely. James said: ‘’Genial is an exceptionally high-quality business and has continued to trade strongly throughout the pandemic. We have had keen interest from both trade buyers and the selected private equity firms we approached. We believe that Harris is an excellent strategic fit for the business and will provide an ideal platform to allow product growth to continue to accelerate for years to come.’’
Jerry Canada, Harris Healthcare Group President, said: “Acquiring the Genial group allows us to enter laboratory information management software (LIMS) markets with focus on molecular diagnostics, clinical counselling and clinical healthcare governance, offering both on-premise and SaaS solutions. We are excited to welcome Genial to our growing portfolio of UK-based healthcare companies, including 2019 acquisition, QuickSilva, and recently acquired K2 Medical Systems.”
Dow Schofield Watts provided corporate finance advice while Jamie Hawley and Jennifer Harrison of Aaron & Partners provided legal advice to the vendors and Tim Adcock, Rob Davies and Jenny Barden of Mitchell Charlesworth provided accounting and tax advice. Fox Williams in London provided legal advice to Harris.