Deadline for Submitting Bids Set for November 16, 2018 @ Noon BST
NY, November 1, 2018: Hilco Streambank is soliciting offers for the business and assets of Exosect Limited (in Administration) (“Exosect” or the “Company”), an innovative formulations business.
The Joint Administrators, Paul Masters and Conrad Beighton of Leonard Curtis Recovery Limited, have instructed Hilco Streambank to actively seek interested parties with regards to the sale of the business and assets of the Company, including its extensive intellectual property assets and proprietary know-how consisting of the understanding, experience and knowledge of Exosect’s highly skilled employees.
Since its formation in 1999 as a University of Southampton spin out, Exosect has been developing pioneering sustainable pest and disease control solutions to tackle a wide range of problems throughout the food supply chain. Over GB£25 million ($32 million) has been invested in the development of the Company’s valuable intellectual property. Its award-winning patented formulations technology (Entostat®), which is based on the use of electrostatically charged wax micro powders, assists with optimization and the direct transfer of active ingredients by electrostatically adhering to a range of surfaces including seeds, grains and pellets, insects and foliage, and building fabrics for improved efficacy, safety, and commercial viability.
With a recent focus on out-licensing, earlier this year, the Company negotiated a license with agrochemical multinational Monsanto for the use of the Entostat® technology for the delivery of select agricultural biologicals as seed treatments.
Having initially developed, marketed and sold pheromone-based products, the Company also continues to support two well-regarded products sold through distributors. Exosect’s moth control product is used by the UK Houses of Parliament and the Royal Opera House.
Hilco Streambank Director Nat Baldwin explained, “Exosect has been a market leader in its specialized area for nearly 20 years. Exosect’s technology platforms deliver a unique mix of commercial and environmental benefits and are underpinned by an extensive suite of patents and formulations expertise.”
The Company’s innovations are currently being commercialized through the £60 billion ($77 billion) crop protection and plant growth enhancement sector under license, but have potential use within many industrial sectors such as animals and public health.
Baldwin was confident of a return from the sales exercise, adding, “The team at Hilco Streambank has been conducting a comprehensive sales and marketing exercise which will continue over the coming weeks. We have received strong international interest in the business and expect a competitive bidding process.”
Parties interested in learning more about the Exosect acquisition opportunity should contact Hilco Streambank directly using the contact information provided below. Visit the Hilco Streambank website for more information regarding the opportunity: http://www.hilcostreambank.com/assets/exosect.