Eurofins Scientific acquires Lancaster Laboratories
On April 4, Eurofins Scientific SE (Paris: EUFI.PA) purchased Lancaster Laboratories, Inc. from Thermo Fisher Scientific, Inc. for approximately US$200 million.
Belgium-headquartered Eurofins, with 9,000 employees and over $1 billion annual revenues, is the world leader in laboratory services, including pharmaceuticals, bioanalytical, environmental and food testing. The acquisition of Lancaster Laboratories significantly augments Eurofins’ U.S. capabilities and capacity in pharmaceuticals, biologics, and environmental scientific solutions. It also positions Eurofins to enhance support to its clients’ increasingly stringent quality and safety standards and the demands of regulatory authorities around the world.
“We are delighted to welcome Lancaster Laboratories with its global reputation for scientific expertise and customer service excellence to our laboratory portfolio,” says Dr. Gilles Martin, Eurofins CEO.
The acquisition reinforces Eurofins’ leadership and strong market position in terms of scale and quality of service on a wide range of laboratory activities in North America, Europe and Asia. As a pharmaceutical CRO, Eurofins is part of the global top 10 list with about $450 million revenues in this field, providing services that span the product development lifecycle. Eurofins is also the leading environmental testing laboratory network globally, as well as the top global provider of dioxin testing. Analyzing more than 10,000 dioxin samples per year, including PCBs (polychlorinated biphenyls) and POPs (Persistent Organic Pollutants), Eurofins, along with Lancaster Laboratories’ dioxin services, can offer its clients a unique combination of cost-effective, timely advantages.
Lancaster Labs has laboratory facilities in the US and Ireland, and 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. Lancaster Labs’ quality, technical leadership and service that customers expect will remain the same, and therefore, the transition to new ownership should be totally seamless from a customer perspective.