Eurofins reinforces its North American footprint with the acquisition of Exova’s environment testing laboratories in Eastern Canada
Tuesday, December 6, 2016
Eurofins Scientific (EUFI.PA), a world leader in bioanalytical testing, announces that it has acquired Exova’s environment testing business in Eastern Canada for about CAD 13m. The acquired business includes 5 laboratories in Quebec and Ontario, employing about 160 staff, and generated around CAD 19m of revenues in 2015.
The acquisition reinforces Eurofins’ nascent footprint in Canada, which started with the acquisition in May 2015 of Experchem, a laboratory focused on nutraceuticals testing. Exova’s laboratories, which serve large industrial companies, local authorities and consultants, shall expand the Group’s client reach and provide a wider distribution channel in Eastern Canada for Eurofins’ large range of analytical services. In return, the laboratories will have access to the entire Eurofins portfolio of services and infrastructure, and benefit from the Group’s logistical, clients, suppliers and laboratories network in North America, which should support their development in their respective local markets, and increase their share of their clients’ testing spend.
Comment from Dr. Gilles Martin, Eurofins CEO: “The 5 Exova laboratories in Quebec and Ontario that just joined our Group represent a good strategic fit for Eurofins as they accelerate the deployment of our environment testing capabilities in Canada. Similar to the transaction earlier this year when Eurofins acquired Exova’s food, water and pharmaceutical testing business in the UK and Ireland, I believe this is very positive for both companies, as it enables each of us to focus our resources on our core areas of testing. By enabling more focused investments and higher economies of scale, this should also benefit clients and other stakeholders in the market.”
For more information about Eurofins, please visit www.eurofins.com or contact:
Eurofins Scientific Group
Phone: +32 2 766 1620
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins 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 and discovery pharmacology and for supporting clinical studies. In addition, Eurofins is one of the significant emerging players in specialty clinical diagnostic testing in Europe and the USA.
With 25,000 staff in more than 250 laboratories across 39 countries, Eurofins offers a portfolio of over 130,000 validated analytical methods for evaluating the safety, identity, composition, authenticity, origin, traceability and purity of biological substances and products, as well as for innovative clinical diagnostic. The Group provides 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 and healthcare practitioners 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’ 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.