Pioneering digital publisher SelectScience is to scale up its mission to make the future healthier after securing private equity investment and appointing a new chief executive.
From its HQ in Bath, UK, SelectScience provides vital online information to scientists around the world at the forefront of cancer research, the fight against COVID-19 and many other critical scientific fields.
After launching a series of virtual events and other online tools designed to support the industry and ensure science communication continues through the pandemic, the company has been having its best year on record, building a global audience of more than 5 million scientists.
Building on this period of exceptional growth, in a statement of further intent the company this week announced Vespa Capital as new investment partners and Kerry Parker as its new CEO.
“I am delighted to be working alongside our management team and Vespa Capital partners in order to amplify our plans, whilst continuing with our overarching mission to make the world a healthier place,” said Kerry.
“This news follows a tremendous 24 months of growth which has seen 150% increase in our scientific audience reach, 280% more virtual event and webinar engagement, as well as a 140% increase in manufacturer content marketing,”
SelectScience was founded in 1998 by Arif Butt and Louise Butt, with a vision to introduce peer-to-peer reviews and digital marketing services into the scientific industry. Renowned for its innovation, the business has subsequently established an enviable market position, serving high-quality digital marketing solutions to the industry, including the world’s top 10 manufacturers of scientific laboratory equipment.
It has developed an extensive and expanding global audience of loyal members, who are attracted to the company’s engaging digital content such as The Scientists’ Channel, virtual events, webinars, eBooks, and more.
Announcing the deal, co-founders Arif and Louise Butt said: “We are delighted to announce this important news. Kerry Parker has already been leading the impressive growth alongside our management team, and, partnering with the impressive private equity company Vespa Capital, we are excited to see immense further growth of the company. In retiring our current positions, we are pleased to continue to support SelectScience’s success as shareholders and ambassadors.”
Matt Lyons, Partner at Vespa Capital, said: “We’re delighted to join SelectScience as investment partners and are excited by the opportunity to work with Kerry and the team as they continue to build a world-class digital publishing platform servicing an attractive and niche customer group. The Vespa Capital portfolio already includes businesses in the pharmaceutical, digital and product reviews industries, including those supporting the fight against the COVID-19 pandemic.”
RSM, Osborne Clarke, Deloitte, BDO, Plural, DLA Piper, Intuitus and Lockton provided various advisory services to facilitate the deal.