A SPORTS nutrition company endorsed by Olympic cycling legend Sir Chris Hoy has been sold in an £8million deal.

Science in Sport (SiS), which makes energy bars and ‘gels’ used by top athletes, is now owned by Provexis plc, a food science firm based in Windsor that also has sites in Liverpool and Aberdeen.

The deal secures a healthy windfall for the Lawson family, which owned SiS outright, with £7million paid in cash and £1million in shares in new owner Provexis.

Tim Lawson, who remains a director, said: “We have had a lot of approaches but this one will be really good for the business.

“This will also give my parents the chance to take a lesser role in the business.

“They are not going to move anything from East Lancashire, so I think it should be a very exciting time for everyone involved with Science in Sport.”

He added that the firm was currently looking for a larger site to consolidate its bases in Brockhall Village and on the Altham business park.

Mr Lawson’s parents, John and Jean, will take consultancy roles, although his brother Simon has left the company.

SiS was founded by the family in 1992. Its products are used by football, rugby teams and sportsmen including Olympic heroes James Cracknell and Sir Chris Hoy.

The company employs 50 and had a turnover of £4.6million in the year to December 31, 2010.

Provexis managing director Stephen Moon said: “Science in Sport is a highly-regarded and growing company in the substantial sector of sports nutrition.

“The revenue-generating, profitable nature of the new business will help us to achieve our strategic goals, by adding a near term revenue stream to our longer-term pipeline development bias.”