Grant Instruments (Cambridge) has acquired a 50% shareholding in Biosan, a Latvian laboratory equipment company
Following a successful three year distribution partnership, the contract was signed in January 2005.
Biosan, based in Riga, has a well established portfolio of innovative products for sample preparation in the fields of genomics, proteomics and cellomics.
The current range of over 50 products embraces mixing, shaking, thermostating, cell cultivation and DNA environmental protection.
Grant is an independent, privately owned company with what it says is a market leading position in temperature controlled laboratory equipment and data logging systems.
Ludo Chapman, managing director of Grant Instruments, commented: "I am delighted to be investing in this dynamic young business.
"Through close co-operation in the successful world-wide launch of the Grant-bio brand, we have developed a strong and enduring working relationship.
"The synergy of Biosan's innovation and Grant's strong market presence will deliver real benefits for our customers.
"Market requirements evolve rapidly, and the combined resource will enable us to respond with the swift development of creative solutions".
Vasily Bankovsky, president of Biosan: "I am very excited by this partnership with Grant.
"With the additional resource from increased investment, we will further develop our production facility.
"By partnering with Grant we have gained access to a global customer base and the expertise of a well respected and established company.
"Furthermore I hope this partnership fosters closer links between our countries and respective universities and our customer base".