Covance - M&A Summary, Ownership, and Business Overview

Life ScienceCompany

Covance M&A Summary

Covance has acquired 5 companies of its own, including 1 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 4 assets.

Covance’s largest acquisition to date was in 2008, when it acquired Eli Lilly & Co - Greenfield Laboratories for $50M. It’s largest disclosed sale occurred in 2000, when it sold Covance Pharmaceutical Packaging Services to Thermo Fisher Scientific for $138M. Covance has acquired in 3 different US states, and 2 countries. The Company’s most targeted sectors include business services (20%) and healthcare services (20%).

Covance Ownership

Who owns Covance?

Covance is owned by Pyxant Labs. It was acquired on May 20, 2021.

Covance Business Overview

Where is Covance headquartered?

Covance is headquartered in Princeton, New Jersey.

What sector is Covance in?

Covance is a life science company.

When was Covance founded?

Covance was founded in 1987.

M&A Summary

  • M&A Total Activity9
    • M&A Buy Activity5
    • M&A Sell Activity4
  • Total Sectors Invested 5
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 6
  • M&A Advisors 1

Covance

Covance, Inc.

210 Carnegie Center,
Princeton, New Jersey 08540
United States,
(609) 452-4440
www.covance.com

Covance is a drug development company and a provider in nutritional analysis, is dedicated to advancing healthcare and delivering Solutions Made Real. Covance was founded in 1987 and is based in Princeton, New Jersey.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 4 1 - - - - 5
vol $50M $50M
Sell (0.0/yr) # 4 - - - - - 4
vol $173M $173M
  9

Most Recent M&A

Company Date Value Type
snapIoT 2020-10-20 - Add-on Acquisition
San Diego, California · www.snapiot.com
Medaxial Ltd. 2014-05-19 - Add-on Acquisition
London, United Kingdom · www.medaxial.com
Genomics Laboratory 2014-02-04 - Divestiture
Seattle, Washington
Environmental Sciences Group 2012-06-12 - Divestiture
Harrogate, United Kingdom
TRAC Microbiology, Inc. 2011-08-10 - Add-on Acquisition
Madison, Wisconsin
Eli Lilly & Co - Greenfield Laboratories 2008-08-06 50M USD Divestiture
Greenfield, Indiana
Covance Cardiac Safety Services, Inc. 2007-11-27 35M USD Divestiture
Reno, Nevada
Covance Pharmaceutical Packaging Services 2000-12-26 138M USD Divestiture
Allentown, New Jersey
GDXI, Inc. 1998-11-05 - Add-on Acquisition
Wauwatosa, Wisconsin
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Life Science 1 (20%) - 2 (50%) -
Business Services 1 (20%) - - -
Healthcare Services 1 (20%) - - -
Information Technology 1 (20%) - - -
Test/Measurement Equipment 1 (20%) 50M (100%) - -
Medical Products - - 1 (25%) 35M (20%)
Packaging - - 1 (25%) 138M (80%)
Total 5 $50M 4 $173M

By Geo

State/Country Buy Value Sell Value
United States 4 50M 3 173M
  Wisconsin 2 - - -
  Indiana 1 50M - -
  California 1 - - -
  Washington - - 1 -
  New Jersey - - 1 138M
  Nevada - - 1 35M
United Kingdom 1 - 1 -
Domestic 4 (80%) 50M (100%) 3 (75%) 173M (100%)
Cross-border 1 (20%) - 1 (25%) -
Total 5 $50M 4 $173M

Top M&A Advisors

Financial Deals
Fairmount Partners
1

Deal Values

buy # Total
< $100M 1 $50M
TOTAL $50M
Largest Eli Lilly & Co - Greenfield Laboratories
$50M (2008-08-06)
sell # Total
$100M to $1B 1 $138M
< $100M 1 $35M
TOTAL $173M
Largest Covance Pharmaceutical Packaging Services
$138M (2000-12-26)

M&A Connections

Deals
Acquired from
Investor(s)
20%
1 (20%)
Strategic(s)
20%
1 (20%)
Divested to
Strategic(s)
100%
4 (100%)

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