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NVM Private Equity backs Cleveland Biotech MBO

17 Jun 2013

pound_sterling_170sqUK firm NVM Private Equity backed applied environmental biotechnology specialist Cleveland Biotech by participating in its £4.4m management buyout with £3m.

The company develops fermented bacteria for use in a range of biological products which naturally degrade a range of organic pollutants including grease, fat, oil, diesel, uric acid and limescale. It recently doubled its European exports after securing a series of large sales orders from Lithuania.

NVM said the change in ownership will enable the company to “build the business organically, taking advantage of the significant growth potential in existing and new markets across Europe.”

NVM director Mauro Biagioni said, “This is a very interesting sector to invest into right now as FOG management expenditure steadily increases in order to avoid legislative penalties.

“Ben and Tony complement each other well, bringing to the business extensive experience of applied biology and finance.

“They have succeeded in helping the business to grow, responding well to market changes. We are excited to be backing an experienced management team with a clear vision for CBio’s future growth.”

Earlier this month NVM exited IG Doors for a return of 3.3 times.

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