Entrepreneurs Hub advise on the sale of specialist laboratory and technology fit-out business Bulb Interiors to Unispace Group
Bulb designs and builds inspiring working environments in the life sciences sector across the UK, including R&D facilities, high-tech laboratory spaces, production facilities and corporate offices.
Entrepreneurs Hub advised the shareholders of Bulb Interiors Ltd, along with Thrings Solicitors, negotiating a successful sale to Unispace Life Sciences a global life sciences strategy, design and construction firm. The buyers were represented by Blitzer, Clancy & Company, with Milbank LLP acting as legal advisers.
Bulb Interiors has a strong reputation within the life sciences sector, which is based on proven expertise, and demonstrated by an impressive repeat business rate and a consistent flow of work from referrals.
The government has identified the biotechnology industry as key to future economic growth in the UK and offers significant funding assistance to the sector. The industry is forecast to grow at a CAGR of 12.2% over the five years to 2028, reaching £35.1 billion.*
Unispace is a strategy, design, and construction leader, creating people-centric spaces for a rapidly changing world and operates in over 25 countries worldwide. This is the second life sciences design company the business welcomes in less than two years, after attaining BioPharma Engineering (BPE) in Cork Ireland in 2022. Bulb will operate as ‘Unispace Life Sciences’, part of the Unispace Group, with a highly experienced team dedicated to creating inspiring facilities, labs and workplaces for this sector.
The acquisition of Bulb Interiors represents another significant step for the business’ Life Sciences segment, which has demonstrated remarkable growth to date and is on target to continue to expand significantly over the next two years.
“We are thrilled to welcome Bulb to our growing life sciences segment. Our businesses are well aligned, we share similar values, growth ambitions, and our combined teams have a wealth of experience to offer clients.
Life sciences is one of the strongest performing sectors in the UK, and to maintain business growth biopharma firms need access to quality facilities and working environments that attract the best talent, drive innovation, and enable collaboration.
With our new team on board, we are well placed to support clients with their changing needs in a fast-moving market.” John O’Reilly, Managing Director – Unispace Life Sciences
For Bulb Interiors shareholders, Paul Horsburgh and Derek Jones, selling was an opportunity to see the business sustain its impressive growth and take full advantage of the potential they had built around the company.
“Many thanks to the team at Entrepreneurs Hub for their support throughout the sale process; something we couldn’t have managed without their help. With no previous experience, the journey was much more comprehensive than envisaged and their support was invaluable.
We look forward to beginning our new journey with Unispace and to continue to deliver inspiring and sustainable work environments that address the challenges today’s life sciences businesses are facing.” Derek Jones, Managing Director – Bulb Interiors Ltd
“It has been a real pleasure working with Derek and Paul during the last few months. We believe that in Unispace Life Sciences we have found a great home for Bulb Interiors and that under their stewardship the business will continue to grow and flourish.” Mike O’Connor, Senior Deal Lead – Entrepreneurs Hub
*IBISWorld Industry Report M72.110: Biotechnology in the UK, Biagio Olivieri, June 2022
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