Press Release


Spectro Analytical Labs acquired by Eurofins

16 November 2017

 

Eurofins Scientific (EUFI.PA), a global leader in bioanalytical testing, announces that it has acquired Spectro Analytical Labs Ltd. (“Spectro”), a leading environment, analytical product testing and inspection company in India.

 

Spectro has over 22 years of experience in quality testing and inspection-related services, and owns accreditations from the National Accreditation Board for Testing and Calibration Laboratories (NABL) in six fields: Chemical, Mechanical, Biology, Non-destructive Testing, Calibration and Electrical and Electronics. Starting from a small facility in New Delhi, Spectro has steadily achieved strong growth to become India’s leading environment and analytical laboratory with operations and joint ventures all over the country, catering to more than 8,000 customers. The company operates 5 state-of-the-art laboratories in India, with a total surface area of ca. 10,000 m2, and employs close to 450 staff.

 

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 30,000 staff in 400 laboratories across 41 countries, Eurofins offers a portfolio of over 150,000 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).

 

The acquisition of Spectro will enable Eurofins to have a strong environment and analytical testing market entry in India and significantly increase Eurofins’ market position in this geographical region.

 

Comment from Mr. Kuldeep Dhingra, Spectro’s Managing Director: “We are delighted to become part of the Eurofins Group. We see tremendous growth opportunities in the Indian testing and inspection industry and are excited with the prospects of significant value creation for our clients and employees through access to Eurofins’ global network of laboratories, technical and financial competencies.”

 

Comment from Dr. Gilles Martin, Eurofins’ CEO: “We are pleased to welcome Spectro, a prominent Indian testing services provider, to Eurofins’ family of businesses. Spectro’s broad range of testing and inspection services, combined with Advinus’ biopharmaceutical and agro sciences competencies that were acquired earlier this year and Eurofins’ existing genomics, food and clinical testing laboratories, will complement the Group’s analytical services portfolio and provide Eurofins with a well-balanced initial market presence in India. This transaction is another demonstration of Eurofins’ commitment to expand its global network of analytical services laboratories across all geographical regions where it anticipates significant growth.”

 

Tata Capital Investment Banking was the exclusive financial advisor and Khaitan & Co. was the legal advisor to the shareholders of Spectro on this transaction.

For more information, please visit www.spectro.in and www.eurofins.com

Important disclaimer:

This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgment of Spectro and 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. Spectro and 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.