LGC, the international life sciences company creating measurement and testing solutions for companies across the world, is to be sold by Bridgepoint for an undisclosed sum to KKR.

Owned by Bridgepoint since 2010, LGC operates globally in 22 countries and focuses on three distinct areas: the manufacture and distribution of reference materials, proprietary genomic products and the provision of analytical and genomics testing services. With over three quarters of its customers in the private sector and the balance in government and the public sector, LGC serves the pharma, AgBio, food and environmental sectors.

Applications of its scientific expertise range from assisting in the development of new drugs to cure diseases, improving seeds to increase crop yields and materials that support the quality and cleanliness of food, water and drugs. Others include ensuring compliance with environmental regulations, and equipping companies with the means for meeting international standards for consumer goods.

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.'

Tim Robinson, chief executive of LGC, commented: Tim Robinson, CEO, LGC said: 'The last five years have seen LGC grow internationally, organically as well as through acquisitions, with the ongoing support of Bridgepoint. We will continue to embrace "Science for a Safer World" with KKR as our new shareholder to build on the product, service, sector and geographic leadership we have today. 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. 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."

Advisers for Bridgepoint in this transaction included: Shearman & Sterling (legal), JPMorgan and HSBC (M&A), EY (financial VDD), LEK (commercial VDD); for management - Travers Smith (legal).

The transaction is subject to normal competition clearances.