Sartorius Concludes Agreement to Acquire the Liquid Handling Business of the Finnish Laboratory Supplier Biohit
October 26 2011 - 12:57PM
Business Wire
Sartorius, a leading international process and laboratory
technology provider, today signed an agreement to acquire the
liquid handling business of the Finnish laboratory supplier Biohit
Oyj. With its liquid handling segment, Biohit is one of the global
market leaders for mechanical and electronic pipettes, as well as
for the associated consumables. The segment, which employs some 400
people, generated net sales of approximately 38 million euros and
an EBITDA margin of approx. 13% in fiscal 2010. Its major customers
are research, quality assurance and academic laboratories as well
as hospitals. This deal will enable Sartorius to expand its product
portfolio with an important component in the area of laboratory
instruments, which currently includes lab balances, lab water
purification systems, moisture analyzers and sample preparation
consumables.
“Pipettes are the ideal addition to our laboratory product
offering,” commented Dr. Joachim Kreuzburg, CEO and Executive Board
Chairman of Sartorius AG. “Just like our balances, they are among
the most frequently used lab instruments with especially high
customer requirements regarding their precision, reliability,
safety and service support. Biohit is one of the leading suppliers
in this field, known worldwide for innovative solutions and high
quality. With this acquisition, we will substantially strengthen
our strategic positioning with our customers and move significantly
toward our goal of serving as a broad-based supplier of
high-quality laboratory instruments and consumables supported by
excellent service."
Welcoming the acquisition, Professor Osmo Suovaniemi, the
founder as well as the Chairman of the Board of Biohit Oyj, said,
“We are really happy to have found a buyer in Sartorius whose
strategic objective is an excellent fit with our liquid handling
business and who will continue to further develop it on a global
basis. Access to the strong global market presence and customer
base of Sartorius will provide excellent prospects for growth."
Subject to the acquisition are all assets of the liquid handling
segment of Biohit Oyj, including its production facilities in
Finland and China, as well as its sales subsidiaries in eight
countries. The acquisition, which will be carried out through the
Sartorius Lab Holding GmbH, will be financed from an existing
credit facility, and is projected to be accretive to relevant net
profit* for the Sartorius Group already in 2012. This deal, which
is subject to customary closing conditions and the approval of the
General Meeting of Biohit, is expected to close in December
2011.
* Relevant net profit = Earnings yielded by adjusting for
extraordinary items, eliminating non-cash amortization and by
taking non-controlling interest as well as tax effects into
account
This press release contains statements about the future
development of the Sartorius Group. The content of these statements
cannot be guaranteed as they are based on assumptions and estimates
that harbor certain risks and uncertainties.
This is a translation of the original German-language press
release. Sartorius shall not assume any liability for the
correctness of this translation. The original German press release
is the legally binding version. Furthermore, Sartorius reserves the
right not to be responsible for the topicality, correctness,
completeness or quality of the information provided. Liability
claims regarding damage caused by the use of any information
provided, including any kind of information which is incomplete or
incorrect, will therefore be rejected.
Conference Call and Webcast
Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of the
Sartorius Group, will discuss the transaction with analysts and
investors on Thursday, October 27, 2011, at 3:00 p.m. CET in a
webcast teleconference. You may dial into the teleconference
starting at 2:45 CET at the following numbers:
Germany +49 (0)69 2222 10632France +33 (0)1 70 48 01 63UK +44
(0)20 7660 0009USA +1 646 254 3371The dial-in code is as follows:
7741122The webcast and presentation can be viewed at
www.sartorius.com.
Photos
http://www.sartorius.com/media/content/press/support/kreuzburg.jpgDr.
Joachim Kreuzburg, CEO and Executive Board Chairman of Sartorius
AG
http://www.sartorius.com/media/content/press/support/laboratory.jpgSartorius
further extends its lab business
A Profile of Biohit Biohit Oyj develops, manufactures and
markets liquid handling products and diagnostic test systems for
use in research, health care and industrial laboratories. Liquid
handling products include electronic and mechanical pipettes and
dispensers, and disposable tips, as well as pipette maintenance and
calibration services. Diagnostics business comprises products and
analysis systems for diagnosing, screening and prevention of
gastrointestinal diseases. Biohit Group employs around 440 people.
The company is headquartered in Finland, with subsidiaries in
France, Germany, the UK, Russia, India, China, Japan and the USA,
and a representative office in Singapore. Additionally, Biohit's
products are sold by approximately 200 distributors in 70
countries. Biohit's share (BIOBV) is quoted on NASDAQ OMX Helsinki.
More information: www.biohit.com.
A Profile of Sartorius The Sartorius Group is a leading
international laboratory and process technology provider covering
the segments of biotechnology and mechatronics. In 2010, the
technology group earned sales revenue of 659.3 million euros.
Founded in 1870, the Goettingen-based company currently employs
more than 4,500 persons. The major areas of activity in its
biotechnology segment focus on filtration, fluid management,
fermentation and cell cultivation, purification and laboratory
applications. In the mechatronics segment, the company primarily
manufactures equipment and systems featuring weighing, measurement
and automation technology for laboratory and industrial
applications. Key Sartorius customers are from the pharmaceutical,
chemical and food industries and from numerous research and
educational institutes of the public sector. Sartorius has its own
production facilities in Europe, Asia and America as well as sales
subsidiaries and local commercial agencies in more than 110
countries.
More information: www.sartorius.com.
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