Published: Jul 24, 2023
Focus: Private Equity
Maven has realised its investment in the Blacktrace Group (Blacktrace) which develops and supplies cutting edge scientific instrumentation and products. Based in Royston, Blacktrace uses unrivalled microfluidics expertise and technology to develop advanced scientific products for a wide range of international markets, including to leading brands such as Dolomite Microfluidics, Dolomite Bio and Particle Works.
Maven clients invested in Blacktrace in 2016, and since then have supported the company’s world-class innovation, which has seen continuous development and launch of new products and technologies. The sale represents Maven’s third profitable exit in 2023, having earlier in the year sold Hedgehog Lab, a mobile app and web development specialist, and Discretionary Fund Management consolidator Titan Wealth (completion of which is subject to regulatory approval).
Backed by global investment firm Carlyle, Unchained Labs is a rapidly growing life sciences tools company focused on solving problems for biologics and gene therapy researchers.
“We are delighted to see the Blacktrace team enter the next phase of their journey after a highly successful partnership with Maven. The team’s ability to constantly innovate and create novel, high value life science products is remarkable, and Unchained is acquiring a recognised name in applications as varied as microfluidics, vaccines, gene therapy and single-cell genomics analysis. We are really proud of what the team have achieved during our time together and wish the team and Unchained Labs every success in the future.
David Milroy, Partner at Maven
“It has been great to have Maven on board as an investor. Thanks for the support over the years. The team is excited to see how growth can now be accelerated working with Unchained to extend the Blacktrace Legacy going forward.”
Mark Gilligan, CEO at Blacktrace