EANS-Adhoc: Sartorius AG
Sartorius plans to acquire liquid handling business
from Biohit
26.10.2011 – 17:52
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 26.10.2011 Acquisition enables substantial expansion of the Lab Instruments portfolio| Purchase price totals EUR68 million | Acquisition expected to be accretive to relevant net profit already in 2012 Sartorius AG, a leading international process and laboratory technology provider, today signed an agreement to acquire the entire liquid handling business of Helsinki-based Biohit Oyj (NASDAQ OMX: BIOBV) through its 100% subsidiary Sartorius Lab Holding GmbH. The purchase price amounts to EUR68 million. This transaction, which is subject to clearance by antitrust authorities and to approval by the General Meeting of Biohit Oyj, is expected to close in December of 2011. The liquid handling business of the Finnish company Biohit generated net sales of approx. EUR38 million and an EBITDA margin of approx. 13% in fiscal 2010. Its product range includes mechanical and electronic pipettes, as well as the associated consumables, which are used in research, quality assurance and academic laboratories as well as hospitals. The business to be acquired represents an ideal fit with Sartorius AG´s portfolio in its Laboratory Instruments area, which includes precision lab balances, laboratory water purification systems and moisture analyzers, among other products. By expanding its product offering, Sartorius AG will be enhancing its position with end customers and distributors, and expects significant growth through the combination and extension of its sales activities. Subject to the transaction are all assets of the liquid handling segment of Biohit, including production facilities in Finland and China, as well as sales subsidiaries in several countries. The acquisition will be financed from an existing credit facility, and is projected to be accretive to relevant net profit (earnings adjusted for extraordinary items and non-cash amortization) for the Sartorius Group already in 2012. Sartorius expects to incur transaction-related expenses of around EUR2 million. The company´s sales and profit guidance for the full year of 2011 will remain unaffected by the acquisition. Dr. Joachim Kreuzburg, CEO and Executive Board Chairman of the Sartorius Group, will discuss the transaction with analysts and investors on Thursday, October 27, 2011, at 3:00 p.m. Central European Time in a webcast teleconference. You may dial into the teleconference starting at 2:45 p.m. CET at the following numbers: Germany +49 (0)69 2222 10632; France +33 (0)1 70 48 01 63; UK +44 (0)20 7660 0009; USA +1 646 254 3371. The dial-in code is as follows: 7741122 The webcast and presentation can be viewed at www.sartorius.com. Goettingen, October 26,2011 Further inquiry note: Andreas Theisen Tel.: +49 (0) 551 308 1668 E-Mail: Andreas.Theisen@sartorius.com end of announcement euro adhoc -------------------------------------------------------------------------------- issuer: Sartorius AG Weender Landstr. 94-108 D-37075 Göttingen phone: +49 (0)551 308-0 FAX: +49 (0)551 308-3289 mail: info.investor@sartorius.com WWW: http://www.sartorius.com sector: Biotechnology ISIN: DE0007165607, DE0007165631 indexes: CDAX, Prime All Share, Technology All Share stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Stuttgart, Düsseldorf, Hannover, München language: English