Eurofins Genomics has now achieved Good Laboratory Practice (GLP) certification for DNA sequencing services, the first genomic service provider in Germany to attain such qualification.Good Laboratory Practice is a required standard for laboratories conducting non-clinical safety studies, fo ... more
Eurofins signs agreement to acquire Lancaster Laboratories, Inc.
28-02-2011: Eurofins Scientific SE has signed a definitive agreement to acquire Lancaster Laboratories, Inc. from Thermo Fisher Scientific, Inc. for approximately US$200m, subject to post-closing adjustments.
With approximately 1,100 employees in the USA and Ireland, Lancaster is a leading provider of pharmaceutical product testing services and cGMP Quality Control (QC) in North America. In addition, it operates one of the leading environmental testing laboratories in the USA.
With this bolt on acquisition, the Eurofins Group becomes the global leader in this very stable and recurring business and significantly enlarges its North American footprint. It is a further expression of Eurofins’ commitment to serve the pharmaceutical and biotechnology industries with laboratory services of the highest quality and reliability.
Completion of the transaction is expected in the next 2-3 months and is subject to applicable regulatory approvals and customary closing conditions. Implied EV/EBITDA multiple is in-line with levels previously communicated for transactions of this size and Eurofins’ value-creation objectives. Given that Lancaster is already a single-site laboratory in the USA, no site consolidations or restructuring costs are foreseen as a result of this acquisition. Based on Lancaster’s historic profitability and budget for 2011, the transaction should be immediately margin and EPS accretive for Eurofins.
Eurofins Genomics, the genomics division of the Eurofins Scientific Group, has now established its own subsidiary in Austria. Customers will be served directly through Eurofins Genomics AT GmbH located in Vienna.The acquisition of the oligonucleotide synthesis and DNA sequencing businesses ... more
Eurofins Scientific has signed a definitive agreement to acquire ViraCor-IBT Laboratories, Inc. from majority owner Ampersand Capital and other shareholders for approximately $255m, subject to post-closing adjustments. Comment from Dr. Gilles Martin, Eurofins CEO: “This acquisition reflects ... more
Eurofins Scientific SE announced the successful closing of the transaction to acquire 100% of Lancaster Laboratories, Inc. (Lancaster, PA, USA), following thorough review and consequent approval from all relevant regulatory bodies. Eurofins signed an agreement to acquire Lancaster from Ther ... more
Eurofins Scientific SE has signed a definitive agreement to acquire Lancaster Laboratories, Inc. from Thermo Fisher Scientific, Inc. for approximately US$200m, subject to post-closing adjustments. With approximately 1,100 employees in the USA and Ireland, Lancaster is a leading provider ... more
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