EQT buys SPT Labtech for £650 million to speed up life science research

UK-based genomics laboratory automation startup, SPT Labtech has been acquired by EQT from Battery Ventures for £650 million. The automation of research, miniaturisation trends, and broader adoption of multi-omics will support SPT’s core liquid handling business for years to come.

Founded in 1997 and owned by Battery Ventures since 2018, the Melbourn-based company manufactures and designs automated liquid handling, sample preparation, storage instruments, and corresponding consumables and support services for life science research. SPT helps researchers save time through automation and enables labs to research chronic illnesses, provide treatments, or find cures for previously untreatable conditions.

EQT will further support the company in new product innovation, expansion into existing and new geographies and end-markets such as catering to the in-vitro diagnostics market, and doubling down on APAC and M&A to further strengthen SPT’s market position. 

David Newble, CEO of SPT Labtech, said: “We are ready to embark on the next phase of our growth journey, in which we aim to foster SPT Labtech’s strong market positions in our existing businesses and explore new market opportunities while making a positive impact on society.”