05 December 2017 | News
The agreed acquisition price is $780 million on a cash free debt free basis.
Image credit- insaonline.org
A global leader in bioanalytical testing, Eurofins Scientific, has successfully closed the acquisition of EAG Laboratories (EA), a leading global scientific services company providing analytical testing and consulting solutions to a diverse and demanding set of end markets.
The agreed acquisition price is $780 million on a cash free debt free basis and the transaction should be immediately margin accretive for Eurofins after closing.
EAG employs over 1,000 highly educated and talented scientists and support personnel, and expects to generate revenues in excess of $ 220 million in 2017.
EAG provides Eurofins an entry into the dynamic and growing Materials and Engineering Sciences markets. EAG is a leading North American provider of advanced chemical testing services for pesticides, industrial and household chemicals. It provides end-to-end support for e-fate, metabolism, eco-toxicology and residue studies required for pesticide and chemical regulatory testing to support global registration requirements.
EAG adds a highly desirable asset to the Eurofins BioPharma Product Testing group to strengthen Eurofins’ extensive range of small molecule and biologics testing and characterization services to a broad range of biopharmaceutical customers.