Cormica, a UK-based medical device and pharmaceuticals testing group, has completed the seven-figure purchase of TPM Laboratories (TPM) in New Jersey.
Cormica, which is backed by Limerston Capital, a UK mid-market private equity investment firm, is focused on strategically expanding its capabilities across the US and Europe.
About TPM
TPM is an independent contract testing laboratory servicing the pharmaceutical and chemical industries through analytical research and development, quality control and stability storage and testing services.
Founded by Rupa Iyer in 2001, TPM operates from a facility spanning 8,000 sqft of office and laboratory space with capability to handle anti-cancer products.
As part of the acquisition, Rupa Iyer will continue to lead her team in the US with wider support from Cormica to develop the business. The deal will allow TPM to harness Cormica’s expertise and broad service line offering to grow organically.
Mark Hammond, CEO of Cormica Group, commented: “TPM has a highly skilled laboratory team with extensive pharmaceutical experience, which has helped it to build a strong reputation for excellence. We are looking forward to working with Rupa and her team as we explore how we can help support the expansion of the business and use it to further our aims in the US, both organically and via further acquisitions.”