Expanding BioGrad adds Wavertree site
On the back of record sales, the education provider and Covid-19 testing firm has added to its Liverpool Science Park headquarters with a 10,000 sq ft base at Wavertree Technology Park.
BioGrad bought the site from vendor JF Renshaw for £950,000, in a deal advised on by Brackenridge Hanson Tate. Fit-out has been handled by Contract Services.
Turnover in the year to September 2021 was reported at £17m, representing a record year for the Liverpool-headquartered firm, with EBITDA also reported at £6m. Turnover was 80% up year-on-year, and EBITDA 70% up.
The company said that growth has been driven by the demand for Covid-19 testing, which has enabled it to diversify into other areas of medical diagnostics. The Wavertree buy is part of a £2m investment programme into developing lab space to future-proof testing requirements.
BioGrad has also built up its leadership team, including new group finance director Faisal Arif, head of legal Sue Wright and commercial director Lynsey Dalgish. BioGrad currently employs 100 people.
Chief executive Dr Natalie Kenny, who founded the business in 2014, said: “When Covid hit, we had a duty to use our laboratory spaces to enable as many schools and businesses to stay open through the pandemic, by affording them best value, quality testing regimes.
“We responded with a low-cost, gold standard testing facility for our clients; then extended that to the wider public to keep the economy moving. I am therefore so very proud of these results, as it means we have been able to make a real difference during this crisis.”
Arif added: “Our new laboratories in Wavertree also provide us with a real opportunity to expand even further, and we actively welcome discussion with future partners and appraising strategic opportunities as they come by.”