Eurofins divests its Digital Testing business
September 26 2022 - 1:15AM
Business Wire
Regulatory News:
Eurofins Scientific (EUFI.PA) (Paris:ERF), the global leader in
food testing and a global scientific leader in bioanalytical
testing, announces the signing of an agreement to divest its
Digital Testing business to Stirling Square Capital Partners
(“Stirling Square”) for €220m on a cash and debt free basis. This
business contributes approximately 1 percent of the Group’s sales
and employs over 600 staff.
Eurofins’ Digital Testing was established in 2015 and has
increased substantially in size and profitability over the past few
years through organic growth, strategic investments and bolt-on
acquisitions to expand its range of digital testing tools and
services as well as its global reach. Eurofins Digital Testing
provides global testing, quality assurance and technical analysis
of digital systems, devices, content and cyber security. It is
recognised as one of the leading players in its space in terms of
technology, innovation and service quality.
Dr Gilles Martin, Eurofins CEO, says: “Over the last 7 years,
Eurofins Digital Testing has successfully grown to become a
recognised leader in its space. In order to facilitate its further
development, we have decided to pass the ownership of the business
to Stirling Square. We wish the team at Eurofins Digital Testing
further success on their onward journey.”
For Eurofins, proceeds from the divestment will support the
Group’s capital allocation priorities, including capital
expenditure in laboratories, digitalisation and acquisitions to
further enhance its leadership in bioanalytical testing and other
life science areas. Completion of the transaction is subject to the
approval of the relevant authorities and is expected to occur
before the end of 2022.
Baird acted as M&A advisor to Eurofins on this
transaction.
Notes to Editors:
For more information, please visit www.eurofins.com.
About Eurofins – the global leader in bio-analysis
Eurofins is Testing for Life. Eurofins is the global leader in
food, environment, pharmaceutical and cosmetic product testing, and
in discovery pharmacology, forensics, advanced material sciences
and agroscience Contract Research services. Eurofins is also a
market leader in certain testing and laboratory services for
genomics, and in the support of clinical studies, as well as in
BioPharma Contract Development and Manufacturing. The Group also
has a rapidly developing presence in highly specialised and
molecular clinical diagnostic testing and in-vitro diagnostic
products.
With over 61,000 staff across a decentralised and
entrepreneurial network of 940 laboratories in 59 countries,
Eurofins offers a portfolio of over 200,000 analytical methods to
evaluate the safety, identity, composition, authenticity, origin,
traceability and purity of a wide range of products, as well as
providing innovative clinical diagnostic testing services and
in-vitro diagnostic products.
The Group’s objective is to provide its customers with
high-quality services, innovative solutions and accurate results on
time. Eurofins is ideally positioned to support its clients’
increasingly stringent quality and safety standards and the
increasing demands of regulatory authorities as well as the
requirements of healthcare practitioners around the world.
In 2020 and 2021, Eurofins reacted quickly to meet the global
challenge of COVID-19, by creating the capacity to help over 20
million patients monthly who may have been impacted by the pandemic
with our testing products and our services and directly supporting
healthcare professionals working on the front line to fight the
virus. The Group has established widespread PCR testing
capabilities and has carried out over 40 million tests in its own
laboratories, is supporting the development of a number of vaccines
and has established its SAFER@WORK™ testing, monitoring and
consulting programmes to help ensure safer environments, travel and
events during COVID-19.
Eurofins has grown very strongly since its inception and its
strategy is to continue expanding its technology portfolio and its
geographic reach. Through R&D and acquisitions, the Group draws
on the latest developments in the field of biotechnology and
analytical chemistry to offer its clients unique analytical
solutions.
Shares in Eurofins Scientific are listed on the Euronext Paris
Stock Exchange (ISIN FR0014000MR3, Reuters EUFI.PA, Bloomberg ERF
FP).
Until it has been lawfully made public widely by Eurofins
through approved distribution channels, this document contains
inside information for the purpose of Regulation (EU) 596/2014 of
the European Parliament and of the Council of 16 April 2014 on
market abuse, as amended.
About Stirling Square Capital Partners
Stirling Square Capital Partners was established in 2002 as a
pan-European private equity firm which invests in mid-market
companies with enterprise value of €100m to €500m. The firm manages
over €2.5bn on behalf of a global and diverse investor base.
Important disclaimer:
This press release contains forward-looking statements and
estimates that involve risks and uncertainties. The forward-looking
statements and estimates contained herein represent the judgment of
Eurofins Scientific’s management as of the date of this release.
These forward-looking statements are not guarantees for future
performance, and the forward-looking events discussed in this
release may not occur. Eurofins Scientific disclaims any intent or
obligation to update any of these forward-looking statements and
estimates. All statements and estimates are made based on the
information available to the Company’s management as of the date of
publication, but no guarantees can be made as to their completeness
or validity.
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version on businesswire.com: https://www.businesswire.com/news/home/20220925005034/en/
Investor Relations Eurofins Scientific SE Phone: +32 2 766 1620
E-mail: ir@eurofins.com
Stirling Square Capital Partners Fergus Wheeler Phone :
+447710128347 E-mail : fergus@ferguswheeler.com
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