Eurofins Scientific pushes into materials and engineering science with Nanolab Technologies acquisition
Eurofins Scientific, the market-leading laboratory group with a global reach in bioanalytic testing, is pushing into a new market: materials and engineering science. The company is looking to provide a number of analytic services in this fast-growing market to big players in the high technology world, and it’s just made its second acquisition in order to do so. The company has signed a “definitive agreement” to acquire Nanolab Technologies, a follow up to its purchase of global scientific services company EAG Laboratories last December.
Eurofins share price has risen by 4% over the last 30 days
SOURCE: Yahoo Finance
Nanolab Technologies is based in Silicon Valley, and focuses on “advanced materials and analytical solutions” for equipment suppliers, original design manufacturers, and original equipment manufacturers in the high technology market. This fast-growing space is already worth $3 billion – and Eurofins is eager to gain a foothold now.
John Traub, Nanolab’s president and CEO, said: “There has never been greater demand for smaller, lighter, high-performance products that do more and use less energy. Nanolab Technologies has earned a reputation in North America for delivering the fast, reliable testing and analyses that help drive innovation and quality. As part of Eurofins, we look forward to leveraging those strengths on a global scale.”
Dr. Gilles Martin, Eurofins’ CEO, added: “We are extremely pleased to welcome Nanolab Technologies and its employees to the Eurofins Group, and are enthusiastic about Eurofins’ growing footprint in high-technology sectors. Nanolab Technologies and its materials scientists, engineers and analysts complement the world-class capabilities acquired last year through EAG Laboratories. Its addition to the Eurofins group is testament to our commitment to meet the sophisticated analytical needs of product innovators around the world.”
Dominion holds Eurofins Scientific in its Global Trends Managed Fund.
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