BERLIN (dpa-AFX) - Pharmaceutical and laboratory equipment supplier, Sartorius AG (SARTF), said on Thursday that it is acquiring a majority stake in ALS Automated Lab Solutions GmbH, a laboratory technology company.
The financial terms of the transaction were not disclosed.
Initially, the German firm will acquire 62.5 percent stake in ALS as of January 3, 2022, and aims to purchase remaining 37.5 percent in 2026.
'With the acquisition of a majority stake in ALS, we are extending our offer in the field of bioanalytics by another complementary technology, further broadening our position in life science research. As a result, we are also strengthening our access to customers in very early stages of drug development,' commented Gerry Mackay, Head of the Lab Products & Services Division of Sartorius.
ALS is expected to generate sales in the high single-digit million-euro area for 2021, with a double-digit EBITDA margin, the acquirer said in a statement.
Copyright RTT News/dpa-AFX