M&A Deal Summary

Eurofins Scientific Acquires Covance Food Solutions

On August 1, 2018, Eurofins Scientific acquired business services company Covance Food Solutions from LabCorp for 670M USD

Acquisition Highlights
  • This is Eurofins Scientific’s 6th transaction in the Business Services sector.
  • This is Eurofins Scientific’s 2nd largest (disclosed) transaction.
  • This is Eurofins Scientific’s 20th transaction in the United States.
  • This is Eurofins Scientific’s 6th transaction in California.

M&A Deal Summary
Date 2018-08-01
Target Covance Food Solutions
Sector Business Services
Buyer(s) Eurofins Scientific
Sellers(s) LabCorp
Deal Type Divestiture
Deal Value 670M USD

Target

Covance Food Solutions

Livermore, California, United States
website
Covance Food Solutions is a provider of product integrity, food safety, product development and consulting solutions for end-use segments that span the life cycle of food, beverage and dietary supplement products. Covance Food Solutions was founded in 1976 and is based in Livermore, California.

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Buyer(S) 1

Buyer

Eurofins Scientific

Luxembourg, Luxembourg

website

Category Company
Founded 1987
Sector Life Science
Employees51,516
Revenue 5.4B EUR (2020)
DESCRIPTION

Eurofins Scientific is an international group of laboratories providing a unique range of analytical testing services to the pharmaceutical, food, environmental and consumer products industries and to governments. Eurofins Scientific was incorporated in 1987 and is based in Luxembourg City, Luxembourg.

DEAL STATS #
Overall 76 of 95
Sector (Business Services) 6 of 6
Type (Divestiture) 17 of 19
State (California) 6 of 10
Country (United States) 20 of 30
Year (2018) 11 of 16
Size (of disclosed) 2 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-27 Laboratorios Ecosur SA

Murcia, Spain

Laboratorios Ecosur SA is a developer of state-of-the-art Food safety testing methods to analyse baby and infant food products and fruits and vegetables including testing for contaminants, microbiology, vitamins, dioxins, hormones and antibiotics. Laboratorios Ecosur is based in Murcia, Spain.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-02 Nanolab Technologies

Milpitas, California, United States

Nanolab Technologies, Inc. is a provider of an analytical services, materials and electrical failure analysis, FIB circuit edit and defect analysis. Nanolab Technologies was founded in 2005 and is based in Milpitas, California.

Buy -

Seller(S) 1

SELLER

LabCorp

Burlington, North Carolina, United States

website

Category Company
Founded 1994
Sector Test/Measurement Equipment
Employees70,400
Revenue 14.9B USD (2022)
DESCRIPTION
LabCorp's corporate headquarters in downtown Burlington, North Carolina.
LabCorp's corporate headquarters in downtown Burlington, North Carolina.

LabCorp of America Holdings is a provider of medical laboratory tests and services through a national network of primary clinical laboratories and specialty testing laboratories. LabCorp was formed in 1994 and is based in Burlington, North Carolina.

DEAL STATS #
Overall 1 of 2
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 2
State (California) 1 of 1
Country (United States) 1 of 2
Year (2018) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-11 Sciformix

Westborough, Massachusetts, United States

Sciformix Corp. is a scientific process outsourcing company focused on pharmacovigilance and regulatory solutions for biopharmaceutical and medical devices clients. Sciformix is based in Westborough, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-22 South Bend Medical Foundation - Diagnostic Clinical Laboratory Assets

Indiana, United States

South Bend Medical Foundation - Diagnostic Clinical Laboratory Assets provides laboratory testing services and integrates pathology services to customers in the region.

Buy -
Mergr

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