Kuits advises SiS on sale

26-Jun-2011 Life sciences business Provexis plc has acquired sports nutrition firm SiS (Science in Sport) Limited for £8 million.

The family owned Blackburn-based SiS founded in 1992 produces and sells a wide range of sports nutrition supplements for professional and Olympic teams and athletes across many sporting disciplines including cycling and rowing. Provexis discovers, develops and licences functional food, medical food and dietary supplement technologies. The acquisition of SiS diversifies the business model of Provexis from its longer-term technology development and licensing model to include the marketing and direct sales of functional foods.

Provexis also has the management and technical capabilities to support the growth of SiS specifically in relation to product development, scientific and regulatory expertise and expertise in the sports nutrition sector.

Steven Moon, Chief Executive of Provexis commented, “Science in Sport is a highly regarded and growing company in the substantial sector of sports nutrition. I believe there are strong synergies between the two businesses”.

In 2010 the sales of sports drinks in the UK were estimated at £220 million, sports foods at £30 million and sports supplements at £70 million.

The Lawson family, who owned SiS were advised by Robert Levy, Robert Buckley and Liz Swann in the corporate and commercial team at Manchester law firm Kuits Solicitors and by Jim Akrill and Jane Parry of PM + M Corporate Finance, Blackburn.

Robert Levy commented, “SiS has built an amazing reputation over many years in a competitive market. It is a great example of a successful family business. We hope that the business continues to develop and we wish them every success for the future”.

Jim Akrill added, “SiS is a shining example of what can be achieved by families in business. We have been working over the last eighteen months to help them identify the best strategy to take the business to the next level in the most beneficial way for all. I am sure that SiS will go from strength to strength as part of Provexis.”

Provexis was advised by Thames Valley-based corporate specialists Nigel Thorne and Tim Moss of Shoosmiths Solicitors, Evolution Securities Limited – Provexis’ nominated adviser, was advised by Matt Bonass and Chris Charlton of Bird & Bird Solicitors in London.

Managing Director of SiS, Phil Walker said of the deal, “This represents a great opportunity for the growth of the business. Provexis offers a solid platform for SiS to continue its development, in terms of products and market share”.

For more information contact Liz Swann

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