Chemical specialist Excelsyn has been sold to US-based Albany Molecular Research for £12 million, providing an exit for its investors.

Chemical specialist Excelsyn has been sold to US-based Albany Molecular Research for £12 million, providing an exit for its investors.

Excelsyn, which provides chemical development and manufacturing services to pharmaceutical companies from its headquarters in North Wales, received backing from turnaround investor Endless and regional venture capitalist NorthStar in 2007.

Aidan Robson, associate director at Endless, led the original investment and the sale to Albany. He comments, ‘We invested in Excelsyn when the business was facing considerable challenges and had lost investor support.   Three years on… Excelsyn is now a market leader.’

The company has 60 employees and generated sales of £10 million in 2009.