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Following the decision in 1994 to privatise the Laboratory of the Government Chemist, Richard Worswick, backed by 3i Group plc, made a successful competitive bid to purchase what was then a DTI government agency. In 2004 a refinancing allowed 3i to exit and Legal & General Ventures became the majority shareholder.
During 10 years as chief executive, and later as deputy chairman, Richard developed LGC into a highly successful international company providing analytical and diagnostic services to clients in the private and public sectors throughout Europe and in India. In 2003 Richard was awarded UK Entrepreneur of the Year for business products and services. Having now stepped down from LGC, he has a portfolio of non-executive and advisory work.