Real estate company

BioCity Group acquired by a real estate company | Midlands Offers News

Nottingham-based life sciences incubator and business collective BioCity Group was acquired by Trinity Investment Management (Trinity IM) and Harrison Street Real Estate Capital as part of a pre-existing joint venture.

Trinity IM is a private real estate company specializing in impact investing in the UK and Ireland. Along with providing affordable housing, Trinity is a UK property operator, developer and manager for the life sciences industry.

The deal involves the merger of BioCity Group with Trinity IM’s scientific real estate arm, Knowledge Factory, to create a national life science ecosystem.

The agreement will form a new company; We are Pioneer Group.

BioCity CEO Toby Reid said, “The goals of our company are the same as those of our Collective. To evolve a promising company towards commercial success and to continuously develop this company to realize its full potential and achieve the financing goal. It is with great pride that we today announce our next step on this path.

“We have gone from ‘probable white elephant’, as labeled by the Financial Times in 2003, to ‘successful lab experiment’, to ‘one of the fastest growing companies in Europe’. What we have accomplished is incredible, but that doesn’t mean it was easy.

“As a team, we can attest to the hard work behind the scenes to make this vision a reality. So as we look to the future soon, I want to take a moment to reflect on what we have achieved. I am immensely proud of everything we have built together.

“This is by no means the end of our hard work. Our public / corporate identity and email addresses will change, but who we are, what we’re trying to accomplish, and most importantly, why, will remain the same. curious and helping pioneering scientific companies out of the laboratory and into the world, to meet the world’s greatest health and environmental challenges. “

BGF supported BioCity in January 2019 with funding facilitating Biocity’s investment in a number of early stage life science companies. The acquisition sees BGF withdraw from the business.

Jon Earl of BGF said: “This is a successful exit for everyone involved with strong returns on investment for all shareholders. site.

“This has since been replicated across the UK, playing a key role in the success of the UK life science industry.”

Trinity Investment Management was advised by Haines Watts and Morrison & Foerster, while EY and DLA Piper advised Harrison Street.

BioCity was advised by Geldards, who also advised shareholders with Howes Percival.

Source link