Eurofins has signed an exclusive agreement to acquire Amatsigroup to further expand its leadership in biopharmaceutical services
Monday, July 10, 2017
Eurofins Scientific (EUFI.PA), a global leader in bio-pharmaceutical products testing, and one of the world leaders in genomic services, announces that it has signed an exclusive agreement with Ekkio Capital to acquire the Amatsigroup for a price of approximately EUR 130m plus some residual debt at closing. The contemplated transaction is expected to be completed over the next few months, subject to customary closing conditions including employees' representatives' information and consultation.
Amatsigroup is a leading international contract development and manufacturing organization (CDMO) providing preclinical and clinical phase services for the development of human and veterinary drugs. Founded in 2010 by Ekkio Capital, it was formed through the merger of four French companies (Avogadro, Amatsi, DBI and Avepharm) bringing complementary expertise and a cumulative experience in the field of over 30 years. As of 2014, Amatsigroup began to expand internationally with the acquisition of its subsidiaries SEPS Pharma in Belgium and Amatsigroup Inc. (Indiana, USA). Its expansion continued in 2015 with the acquisition of Pierre Fabre's pharmaceutical analysis laboratory in Saint-Augustin, France. In 2016, the group expanded its activity through the acquisition of QBiologicals, a Belgian company specialized in bioprocess development & biomanufacturing. In early 2017, Amatsigroup strengthened its sterile capacities with the acquisition of Disposable Lab and even more recently signed an exclusive agreement to acquire two sites in France from Bertin Pharma with a strong expertise in galenic formulation and development. This acquisition is expected to be closed during the summer.
Amatsigroup is one of the largest independent multi-specialist platforms in Europe with a unique proposal for specialty and biopharma clients, including biopharmaceutical analysis, formulation development and manufacturing, biological research & development, among other services. The company employs about 450 staff and plans to generate over EUR 60m revenues in 2017 on a pro forma basis, with an EBITDA margin already above Eurofins overall group target.
Amatsigroup has 8 sites in France (including the sites acquired from Bertin Pharma), 2 sites in Belgium and 1 site in the USA. The company is organized in five business units and delivers a differentiated specialist offer focused on biotechnology companies and mid-size pharma companies, supported by strong technical capabilities and project management over the whole development cycle. Given its unique positioning as a high value added multi-specialist drug development services provider, the company is well-positioned to leverage and strengthen its footprint in the CDMO industry.
Should the contemplated transaction come to closing, the addition of Amatsigroup to the Eurofins network would strengthen the Group's biopharma product testing biopharmaceutical service offering, and strengthen its growing presence in the field of formulation, development and manufacturing of new drugs, following the acquisition of Alphora in Canada earlier this year.
Comment from Alain Sainsot, Managing Director of Amatsigroup: “Over the past 6 years, thanks to the support of our shareholder Ekkio Capital, the company has become a leader in its sector. The Eurofins network would now offer us the opportunity to develop our multi-specialist platform proposal in other countries, get access to Eurofins group international clients as well as to Eurofins globally standardized IT and quality management solutions and generally to strengthen our position as a leader in the CDMO sector in France and other parts of Europe.”
Comment from Dr. Gilles Martin, Eurofins CEO: “The acquisition of the Amatsi Group is reinforcing Eurofins leadership position into the BioPharma services line of business. Amatsi’s fast growing contract development and manufacturing (CDM) services is enabling Eurofins entry in this attractive space in Europe and will be very complementary to our growing network of biopharma product testing activities in Europe. Together with Alphora, recently acquired in Canada, Eurofins is now ready to service its customers on two continents in the CDMO space.”
For more information, please visit www.eurofins.com or contact:
Phone: +32 2 766 1620
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific through its subsidiaries (hereinafter sometimes “Eurofins” or “the Group”) believes it is the world leader in food, environment and pharmaceutical products testing and that it is also one of the global independent market leaders in certain testing and laboratory services for agroscience, genomics, discovery pharmacology and for supporting clinical studies. In addition, Eurofins is one of the key emerging players in specialty clinical diagnostic testing in Europe and the USA. With over 28,000 staff in 310 laboratories across 39 countries, Eurofins offers a portfolio of over 130,000 analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products, as well as for innovative clinical diagnostic. The Group objective is to provide its customers with high-quality services, accurate results on time and expert advice by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by expanding both 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 and the most comprehensive range of testing methods.
As one of the most innovative and quality oriented international players in its industry, Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the expanding demands of regulatory authorities around the world.
The shares of Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).
This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgement 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 guarantee can be made as to their validity.