Its not often I feel compelled to write a good news story – but today is one of those days.
Congratulations are in order for Laurence Ede and his fellow managers after they sold Tocris Bioscience to Techne for £75 million. Tocris is a company I’ve covered as a journalist on a number of occasions over the years and I must admit to having a personal connection with a number of its employees and others linked with the company.
The first time I wrote a full article about the company was when the company was the focus of a $40 million leveraged management buy-out in 2006 after its founders retired. Since then, management has invested heavily in the company and despite the difficult economic conditions have managed to almost double the company’s value in the space of just 5 years – a truly remarkable feat that I feel should be applauded loudly.
The deal also gives me hope for the future, as it was led by a Chemist with an MBA – you don’t see too many of them about and I hope that one day I can follow in Laurence’s footsteps.