Corporate advisory firm Lexington has appointed Julian Baines as non-executive chairman.
Mr Baines, managing director of EKF Diagnostics , which is listed on AIM, will add considerable transactional knowledge and strategic experience gained right across the globe to benefit Lexington, which was launched in Cardiff in January.
Working alongside Lexington’s directors, Gary Partridge and Nigel Greenaway, Mr Baines will steer the board using his wealth of knowledge of growing successful businesses, particularly across the medical devices sector – a very active segment of the transactional marketplace.
He is is eager to explore the potential for more Initial Public Offerings (flotations) in the regions as an alternative means of raising capital and crystallising shareholder value.
Penarth-born Mr Baines has over 20 years of experience within the entrepreneurial marketplace, having acquired EKF Diagnostics in 2010 through a reverse takeover onto AIM. EKF is a global company which specialises in manufacturing devices to test for conditions including diabetes and anaemia.
Since then, the company has grown into a multi-million pound company with nine sites across the world and over 100 distributors internationally.
He was also recently awarded an MBE for services to life sciences.
Before setting up EKF Diagnostics, Mr Baines completed an MBO of diagnostics company BBI in 2000.
In 2004, the company floated on AIM at a £10m market capitalistion. Following a number of acquisitions, the business was then sold to US giant Alere Inc in 2008 for circa £85m.
Mr Baines, said: “I’m delighted to become the non-executive chairman of Lexington. I receive many offers from companies to join and support their business, but with Lexington I saw a unique opportunity where I believe my wide-ranging transactional experience could really add value to the firm.
“Lexington is an exciting advisory business and I’m really looking forward to working alongside Nigel and Gary to play an important role in guiding and shaping Lexington’s future development.
I really believe there is a need for a company like Lexington who will be able to support and advise businesses to grow both here in Wales and globally.
“In Wales alone there are numerous companies that would welcome advice and support to grow in the UK and internationally.”
Mr Partridge said: “Lexington is based on the ethos of working with entrepreneurs and being dynamic and fast moving in the transactional marketplace.
“We felt that Julian’s experience and personality personified our vision for growing Lexington into a leading advisory boutique. We are really excited to have him as part of the team.”
Mr Greenaway, who also heads commercial law firm Greenaway Scott said: “Julian’s track record is almost unrivalled, having completed buy-outs, raised private equity, completed strategic acquisitions and taken companies to the public markets. His experience will be a real differentiating factor for both Lexington and our clients.”