Anger as jobs axed at drug development firm
Dozens of positions to go
ANDREA LAMBROU
Dozens of local jobs are set to go after a drug development firm axed its East Kilbride site.
Concept Life Sciences at Kelvin South Business Park was one of four UK sites closed on Monday – with a total loss of 280 jobs.
It is understood staff were told not to go into work on Monday.
This comes just 18 months after the Manchester-based business was sold by private equity firm Equistone Partners.
The firm was sold to productivity-enhancing instrumentation and controls company Spectris.
Staff were informed in June that at least 200 jobs in the East Kilbride, Manchester and Braintree sites were at ‘immediate risk’ and the new owners started a 45-day consultation period.
But, one month later, the number of jobs under threat increased to 280 as staff at the Chapel-en-le-Frith site were also told their jobs were at risk.
A member of staff at the firm said: “Staff have not been given any explanation of why the closure has occurred, except ‘business slowdown’, with the head of HR, calling it a ‘perfect storm’ at the final staff consultation meeting.
“She was met with anger that staff has been given zero indication of loss making, let alone imminent closure.”
Equistone sold Concept Life Sciences last year for £163m.
The firm was launched in 2014 following the acquisition of three businesses for a combined enterprise value approaching $100m (£70.2m).
Concept Life Sciences is a knowledge-based, scienceled business providing a wide range of innovative and integrated solutions to clients in the pharmaceutical, biotechnology, food, environmental, agrochemical, petrochemical, chemical and consumer products sectors.
It was created with backing from Equistone Partners Europe as a result of the purchase of Peakdale Molecular, Resource & Environmental Consultants and Scientific Analysis Laboratories.
Equistone’s investment gave the business a platform to make acquisitions and develop into a major contract research and testing organisation.
Spectris is based at Egham in Surrey.
At the time of the deal John O’Higgins, chief executive of Spectris, said: “Concept Life Sciences is a high-quality services business which further strengthens our portfolio.”
The News attempted to contact Concept Life Sciences but they could not be reached.