Eurofins Scientific has agreed to offload its Digital Testing business to Stirling Square Capital Partners in a 220 million deal.
The business, which employs 600 people, contributes just 1% of the Group’s sales.
Eurofins’ Digital Testing was established in 2015 and has increased substantially in size and profitability over the past few years through organic growth, strategic investments and bolt-on acquisitions to expand its range of digital testing tools and services as well as its global reach. It provides global testing, quality assurance and technical analysis of digital systems, devices, content and cyber security.
Dr Gilles Martin, Eurofins CEO, said: “Over the last seven years, Eurofins Digital Testing has successfully grown to become a recognised leader in its space. In order to facilitate its further development, we have decided to pass the ownership of the business to Stirling Square. We wish the team at Eurofins Digital Testing further success on their onward journey.”
Eurofins is a global leader in food testing and a global scientific leader in bioanalytical testing. Proceeds from the divestment will support the Group’s capital allocation priorities, including capital expenditure in laboratories, digitalisation and acquisitions to further enhance its leadership in bioanalytical testing and other life science areas.
Completion of the transaction is subject to the approval of the relevant authorities and is expected to take place before the end of 2022.
