Eurofins expands U.S. environmental testing service with new acquisition
Bioanalytical testing giant, Eurofins Scientific, is pushing to advance its environment testing services in the U.S with the acquisition of TestAmerica Environmental Services LLC from JSTI Group. TestAmerica has a network of 24 full service testing laboratories and 40 service centres throughout the country. With more than 2,000 staff, it’s a major player in the industry – and Eurofins is hoping that the $175 million it spends to add it to its own network will help drive its U.S. business.
Eurofins share price has declined by almost 2% over the last three months
SOURCE: Yahoo Finance
Eurofins’ CEO, Dr. Gilles Martin, made the following comment over the acquisition: “We are extremely pleased to welcome TestAmerica and its talented teams to the Eurofins Group. Its competencies, reputation for scientific excellence and complementary geographic footprint, client focus and service offerings further strengthen Eurofins’ global offering in the very competitive environmental testing market. We look forward to working together as an integrated network of independent state-of-the-art laboratories providing our customers access to the full range of services, high quality standards and technological capabilities of the combined Group.”
TestAmerica’s CEO, Ms. Rachel Brydon Jannetta, added: “Today is a milestone in the history of our business. I am personally very excited about joining forces with Eurofins and look forward to a bright future as we move ahead with new owners who already operate within the environmental testing industry globally, as well as being market leaders in several other important scientific testing arenas”.
Dominion holds Eurofins Scientific in its Global Trends Managed Fund.
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