Swindon specialists help forensic company set up business providing lab testing for exotic animals

SWINDON-based corporate finance specialist Watersheds has helped forensic services firm Cellmark set up a business that offers lab testing of exotic animals.

Pinmoore Animal Laboratory Services (PALS) Ltd in Cheshire is one of the few independent veterinary testing and diagnostics companies in the UK.

Staff work on a wide range of animal samples – from aardvarks to zebras – which are sent in by veterinary practices, farms, animal parks and zoos, as well as private pet owners.

Cellmark provides a wide range of laboratory testing services primarily focused on forensic investigations, DNA analysis and toxicology.

He is contracted to work with most police forces in the UK. The acquisition of independent niche company PALS is Cellmark’s first step into the veterinary diagnostics industry.

Watersheds partner Yuri Fernandes said: “We were engaged by Cellmark in late 2020 as they embarked on their journey to grow and diversify their business through acquisitions, with a view to both strengthening their existing markets and enter new ones.

“Following this strategy, we reached out to the market to identify suitable companies that met Cellmark’s criteria, but also shared the same values ​​of professionalism, integrity and customer service.

“After an initial discussion, it became clear that PALS would be an excellent choice and we were able to quickly build an assessment and transaction structure that worked for both parties.

“The acquisition will provide the exotic animal diagnostics company with the operational support and resources it needs to grow, as well as development opportunities for its employees.”

Cellmark managing director David Hartshorne hailed the Swindon-based company’s expertise and methods which helped them uncover unexpected opportunities.

He added: “Watersheds understood our brief perfectly, then researched and found exactly the type of business we wanted to acquire.

“We were particularly impressed that they found opportunities that weren’t necessarily on the open market and that we certainly wouldn’t have found on our own.

“They were able to respond quickly and quickly resolve any issues that arose throughout the process by providing business and pragmatic solutions to both parties.

“This is an excellent acquisition as it allows us to extend our expertise in laboratory analysis to what is a new market for us.

“There are significant opportunities for expansion and, together with the PALS team, we intend to develop a much larger veterinary diagnostics business that remains focused on quality, flexibility and customer service.”

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