Eurofins Scientific (EUFI.PA) announced an agreement with the JSTI Group to acquire TestAmerica Environmental Services LLC. The transaction is expected to close in the fourth quarter of 2018 subject to the fulfilment of regulatory and customary closing conditions. The agreed acquisition price is $175 million on a cash free debt free basis.
TestAmerica, which became part of JSTI through its acquisition in September 2016, operates an integrated network of 24 full service testing laboratories and 40 service centres throughout the USA. TestAmerica is expected to generate revenues of over $230 million in 2018 and employs over 2,000 staff.
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