BioCity Group has been acquired Trinity Investment Management and Harrison Street Real Estate Capita
Released: Tuesday 27th April 2021
BioCity Group has been acquired Trinity Investment Management and Harrison Street Real Estate Capital
It is with great pride that we announce that BioCity Group has been acquired by Trinity Investment Management (Trinity IM) and Harrison Street Real Estate Capital (Harrison Street) as part of a pre-existing joint venture.
The deal will see the merger of BioCity Group with Trinity IM's science real estate arm, Knowledge Factory, to create the UK's first nationwide life science ecosystem.
At a time of unprecedented profile and opportunity for the life sciences and technology sectors in the UK, we have been seeking partners to help us scale our operation and amplify our impact. In Trinity IM and Harrison Street, we have found mission-aligned partners via a deal that gives us access to the funds required to invest in and expand our existing facilities, accelerator programmes and venture capital activity.
The deal will form a new company; We are Pioneer Group.
We Are Pioneer Group (WAPG) will become the first nationwide business to combine direct business support with the investment and development of new lab space. Providing ecosystems for growth and allowing ambitious businesses to tap into the expertise and networks of other companies connected across Britain and North America.
BioCity's existing venture development and investment arms will expand to become UK wide whilst collaborating closely with academics, government agencies and major pharmaceutical companies.
BioCity locations will join a wider network of 5 other science parks currently managed by Trinity IM's science real estate arm, Knowledge Factory, in Edinburgh, Manchester, Colworth, Wilton and Kent.
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A message from our CEO
"The aims for our business are the same as those within our Collective. To scale a promising venture into commercial success and continually develop that business to realise its full potential and achieve the funding goal. It is with immense pride that today we announce our next step along that path.
We have bootstrapped our way from "probable white elephant", as labelled by the Financial Times in 2003, to "successful lab experiment" (FT 2008), to "one of Europe's fastest-growing companies" (FT 1000 report 2017) and now one of the most replicated business models within our industry. What we have achieved is incredible, but that is not to say it has been easy.
As a team, we can attest to the hard work behind the scenes in making that vision a reality. So, while we will soon be looking to the future, I want to take a moment to reflect on what we have achieved. I am immensely proud of all that we have built together."
"This is by no means the end of our hard work. Our public/corporate identity and email addresses will change, but who we are, what we are trying to achieve and most importantly, why, remains the same. To provide a home to the curious and help pioneering science ventures to make it out of the lab and into the world, to tackle the biggest global health and environmental challenges."
Toby Reid, BioCity CEO.
Trinity Investment Management
Trinity IM are a privately owned real estate company specialising in impact investment in the UK and Ireland. Alongside the delivery of affordable housing across Ireland and Special Situations across the UK, Trinity is an operator, developer and manager of UK real estate for the life sciences sector.
Via sub-brand Knowledge Factory, Trinity operates eight science parks, currently the largest network in the UK.
History:
July 2012 Trinity Investment Management founded
Former colleagues Richard O’Boyle and Simon Hoad founded Trinity IM with a vision of disrupting the UK real estate market. Alongside the acquisition of multiple properties.
2015 December Science Parks Acquisition.
Together with US investment manager Angelo Gordon, Trinity Investment Management acquired the Mars Pension Fund’s Business Environments for Science and Technology (BEST), the UK's largest private network of science parks, covering 348 acres across five sites.
2018 April Launched Knowledge Factory, a UK focused innovation platform.
Trinity IM launched the Knowledge Factory platform to help foster collaboration and innovation between their occupier businesses and provide investment support when needed.
Continue reading:
Useful links to find out more about Trinity Investment Management
Continue reading:
Useful links to find out more about Trinity Investment Management
TrinityIM [visit site] | Knowledge Factory [visit site] | Recent news [view article]
Harrison Street
Harrison Street are one of the largest alternative real asset investment firms with significant scientific real estate experience in the US. Headquartered in Chicago with offices in London and Toronto, the firm has approximately $32 billion in assets under management. Clients of the firm include a global institutional investor base domiciled in North America, Europe and Asia.
History:
Harrison Street was founded in 2005 by real estate veteran, Christopher Merrill, in partnership with the Galvin family (founding family of Motorola). Christopher Merrill and the firm’s senior executives have a long history of identifying unique and innovative investment strategies over their careers. It is in this spirit of innovation, integrity and investment discipline that Harrison Street was founded and continues to operate today.
Continue reading:
Useful links to find out more about Harrison Street
Harrisonst.com [visit site] | Recent news [view article]
For full press release please click here.
