PARIS (Agefi-Dow Jones)–Eurofins Scientific announced on Monday the signing of an agreement to sell its digital analysis business (“Digital Testing”) to the private equity firm Stirling Square Capital Partners for an amount of 220 million euros based on cash and debt-free financing.
This activity, created in 2015, represents around 1% of Eurofins Scientific’s turnover and employs more than 600 people, said the analysis group for pharmaceutical, food and environmental products.
Eurofins said the proceeds from the sale would support its “capital allocation priorities, including laboratory capital expenditures, digitalization and acquisitions aimed at strengthening its leadership in bioanalytical testing and other fields of life sciences”.
Completion of the transaction is subject to customary regulatory approvals and is expected to occur before the end of 2022, Eurofins added.
-Vincent Alsuar, Agefi-Dow Jones; +33 (0)1 41 27 47 39; [email protected] ed: VLV
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
September 26, 2022 01:43 ET (05:43 GMT)