Deal typePrivate Equity & Transaction Services
IndustryLife Sciences
Client nameBBI Solutions OEM Limited
BDO has provided financial due diligence services to support BBI Solutions, the premier independent manufacturer of immunodiagnostic reagents globally, on their acquisition of IBEX Technologies.
IBEX are a leading developer and manufacturer of high-precision enzymes and diagnostic solutions located in Montreal, Quebec. This acquisition strategically enhances BBI’s capabilities to support In Vitro Diagnostic (IVD) manufacturers with the growing global demand for IVD haemostasis testing, driven by an ageing population, the rising prevalence of chronic diseases, and an increased reliance on point-of-care tests in surgery and trauma settings. By incorporating IBEX’s innovative enzyme technologies into its extensive portfolio of recombinant proteins, BBI is also responding to the notable industry shift towards recombinantly produced reagents for IVD tests, reflecting a growing preference for more standardized and reliable testing methodologies.
The BDO project team included: Andrew Howson, Lewis Winston, Amy Banister, Rebecca Page and Sophie Lamb.
IBEX are a leading developer and manufacturer of high-precision enzymes and diagnostic solutions located in Montreal, Quebec. This acquisition strategically enhances BBI’s capabilities to support In Vitro Diagnostic (IVD) manufacturers with the growing global demand for IVD haemostasis testing, driven by an ageing population, the rising prevalence of chronic diseases, and an increased reliance on point-of-care tests in surgery and trauma settings. By incorporating IBEX’s innovative enzyme technologies into its extensive portfolio of recombinant proteins, BBI is also responding to the notable industry shift towards recombinantly produced reagents for IVD tests, reflecting a growing preference for more standardized and reliable testing methodologies.
"It has been great to work closely with Richard and Samay at BBI, supporting them with the acquisition of IBEX. This partnership will offer both companies strategic advantages, including a more diversified offering for IVD customers and a reinforced position in the diagnostic enzymes market.
This deal shows that in a quiet market, good deals are still being completed. We look forward to working with BBI again in the future!"
Lewis Winston, Director, BDO LLP
The BDO project team included: Andrew Howson, Lewis Winston, Amy Banister, Rebecca Page and Sophie Lamb.