EANS-Adhoc: Sartorius AG Sartorius plans to acquire liquid handling business
from Biohit
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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.
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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
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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