Exova sells UK & Ire Food, Water & Pharma Business

NEWS RELEASE

Thursday 19 May, 2016

Exova agrees to sell UK and Ireland Food, Water and Pharmaceutical business to Eurofins Scientific

Exova Group plc, the global testing, calibration and advisory services provider, announced today that it has entered into a conditional sale and purchase agreement to sell its UK and Ireland Food, Water and Pharmaceutical business to international life sciences company, Eurofins Scientific, for a cash consideration of around £18m.

The sale consists of a portfolio of ten well-established, accredited laboratories across the UK and Ireland which provide a wide range of chemistry and microbiological testing services. Exova's Food, Water and Pharmaceutical business in the UK and Ireland generated revenues of around £20m in 2015. It is expected that the sale will complete early in the third quarter of 2016 on the satisfaction of certain conditions.

Ian El-Mokadem, CEO of Exova Group plc, said: "The sale of our Food, Water and Pharmaceutical business in the UK and Ireland allows us to dedicate significantly more financial and management resource to growing in sectors where we can build on our market leading positions in technically demanding services such as Fire, Transportation, Aerospace, Industrials and Infrastructure related testing."

ENDS

All media enquiries, please contact:

Angela Casey

Pagoda Porter Novelli

T: +44 131 556 0770

E: [email protected] 

Diana Milford, External Communications Manager

Exova Group plc

T: +44 131 335 4373

E: [email protected]

Exova

Exova is one of the world's leading laboratory-based testing groups, trusted by organisations to test and advise on the safety, quality and performance of their products and operations. Headquartered in Edinburgh, UK, Exova operates 145 laboratories and offices in 32 countries and employs around 4,500 people throughout Europe, the Americas, the Middle East and Asia/Asia Pacific.

Exova's capabilities help to extend asset life, bring predictability to applications, and shorten the time to market for customers' products, processes and materials. With over 90 years' experience, Exova specialises in testing across a number of key sectors from health sciences to aerospace, transportation, oil and gas, fire and construction.