The investment firm said there will be a particular focus on the US and Asia.
LGC provides measurement products and services including reference materials and proficiency testing, genomics reagents, instrumentation and services and sample analysis and interpretation.
The company serves customers across end markets including pharmaceuticals, biotechnology, food, environment, government and academia.
In August, private equity firm Bridgepoint denied media reports it is looking to sell LGC.
Bridgepoint told us at the time that it hired JP Morgan and HSBC to look at merger and acquisition prospects.
Informed-Sport is run by LGC-owned HFL Sport Science and is one of the most comprehensive sports supplement-testing programmes for contaminants like steroids and stimulants such as DMAA (1,3-dimethylamylamine/methylhexaneamine).
Informed-Sport was created in consultation with UK Anti-Doping. While it is never possible to guarantee that any product is 100% free of contamination, bodies such as UK Athletics recommend their athletes can use certified products knowing contamination risks are minimised as much as possible.
International growth
Tim Robinson, CEO of LGC said the last five years have seen LGC grow internationally with the support of Bridgepoint.
“We have ongoing, exciting growth opportunities across our entire business that will strengthen our solutions to our existing customers and help us expand into new markets and geographies,” he said.
“This is an exciting new phase in LGC's development and we believe that KKR’s network, market knowledge and support make them an ideal, new partner for our business.”
LGC was acquired by Bridgepoint from LGV Capital in a transaction that valued the business at £257m in 2010.
It has grown over the past five years through investment from Bridgepoint which has enabled the acquisition of 12 companies and revenue growth from £130m in 2010 to £222m in 2015.
Dominic Murphy, head of the Healthcare Industry Team and Head of UK & Ireland at KKR and Kugan Sathiyanandarajah, principal in the Healthcare Industry Team at KKR, said: “We believe that there is a significant opportunity to build LGC into a leading global life sciences tools platform, particularly as it further develops its footprint in fast-growing US and Asian markets.”
LGC is headquartered in London and employs over 2,200 employees across 22 countries.
Chris Busby, partner responsible for Bridgepoint’s investment activities in the UK, said when LGC was privatised in 1996, it had one client in one geography.
“Having performed strongly under our five year ownership, now it has a blue chip global customer base of over 20,000 customers in 150 countries. As the business has grown, LGC has tripled profits, almost doubled revenues, built a demonstrable IP portfolio and completed 12 acquisitions.”
LGC was acquired by Bridgepoint from LGV Capital in a transaction that valued the business at £257m in 2010.
It has grown over the past five years through investment from Bridgepoint which has enabled the acquisition of 12 companies and revenue growth from £130m in 2010 to £222m in 2015.