Date posted: 12th Jul 2024
Agroisolab UK Ltd (AIL UK), an expert team leading the development of international projects verifying the origin of food, drink, timber, and protected species using stable isotope analysis and other laboratory-based authentication technologies, has been successfully acquired by Source Certain International Limited (Source Certain), an Australian company specialising in scientific origin verification.
Two York firms, Clive Owen LLP and Andrew Jackson Solicitors LLP, played an integral role in facilitating the acquisition.
Agroisolab UK, based in Malton, North Yorkshire, is renowned for bringing authentication of food products by scientific analysis to the UK market enabling traders, including retailers, to confirm origin claims. An increased reliance on scientific analysis is driving the growth of the product verification market as global supply chains look to strengthen their traceability systems.
Agroisolab UK is a leader in the development of sophisticated traceability projects in timber and timber-based products. Timber authentication is a key growth area because the EU Deforestation Regulation (EUDR) becomes applicable on 30 December 2024 to all companies importing timber or forestry derived products into the EU, meaning they will need to demonstrate that their product is deforestation-free, and not linked to forest degradation, nor illegal harvesting and trade.
The acquisition represents a significant milestone in Source Certain’s expansion strategy, bringing in a UK-based operation with experienced technical personnel and specialised scientific solutions. Source Certain’s proprietary technology, TSW Trace®, powers its origin verification service and comprises multiple methodologies, processes, and procedures that include isotope analysis.
Roger Young, CEO of Agroisolab UK, will assume the role of CEO of Source Certain UK. Commenting on the acquisition, he said: “I am excited to be joining the Source Certain team. I can see so much opportunity in leveraging the AIL UK experience including the exciting opportunity of introducing our customers to Source Certain’s capabilities, reputation, and experience. Now it’s back to work as new regulations are imminent that require more due diligence and verification of origin.”
Michael Cantwell, Corporate Finance Partner at Clive Owen LLP, said: “This was a fascinating deal to work on, given the cutting-edge technology and the potential for significant growth in the sector. We are delighted to have facilitated this strategic deal which is a testament to the expertise of our York office and our ability to work in a global, cross-border market.”
Susie Mortonson, Corporate Partner at Andrew Jackson Solicitors LLP, who led the legal team advising Agroisolab UK, added: “Having personally worked with the Agroisolab team for over a decade, it was a real delight to see this deal come to fruition for the company. It has been such a pleasure to work with Roger and his team over the years and I am really excited to see what the future holds for them, working in partnership with Source Certain.
“Working together with the team at Clive Owen LLP on the transaction ensured a smooth process and successful outcome for all parties involved.”
Photo caption – left to right – Susie Mortonson, Corporate Partner at Andrew Jackson Solicitors LLP, Michael Cantwell Corporate Finance Partner at Clive Owen LLP, Roger Young, CEO of Agroisolab UK, Heather Price, Agroisolab and Jonathan Doyle, Audit and accounts director, Clive Owen LLP.
