PARIS: Eurofins Scientific SE signed an agreement to divest its Electrical & Electronic Testing business (MET Labs) to UL Solutions Inc. for an Enterprise Value of €575 million on a cash and debt free basis.
MET Labs is expected to generate over €180 million in revenues in 2026, with profitability broadly in line with the Group average, and employs approximately 1,300 staff globally.
MET Labs is an international network of laboratories offering expertise in product safety testing, inspection and certification services for electrical and electronics products.
The business serves clients across consumer electronics, automotive, telecommunications and industrial sectors, ensuring compliance with international safety and performance standards.
As previously communicated, Eurofins is focused on allocating capital toward its core testing for life capabilities. Proceeds from this divestment will support the Group’s capital allocation priorities, including debt reduction, capital expenditure in laboratories and owned sites, next-generation digital solutions, robotics and AI developments, share buybacks and strategic acquisitions to further strengthen Eurofins’ market-leading positions in food, environmental, pharmaceutical, clinical and related testing areas.
Completion of the transaction is subject to customary regulatory approvals and is expected to occur by the end of 2026.
Eurofins is Testing for Life. The Eurofins Scientific SE network of independent companies believes that it is a global leader in food, environment, pharmaceutical and cosmetic product testing and in discovery pharmacology, forensics, advanced material sciences and agroscience contract research services. It is also one of the market leaders in certain testing and laboratory services for genomics, and in the support of clinical studies, as well as in biopharma contract development and manufacturing. It also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.
With over 65,000 staff across a decentralised and entrepreneurial network of more than 950 laboratories in over 1,000 companies in 59 countries, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services and in-vitro diagnostic products.
Eurofins companies’ broad range of services are important for the health and safety of people and our planet. The ongoing investment to become fully digital and maintain the best network of state-of-the-art laboratories and equipment supports our objective to provide our customers with high-quality services, innovative solutions and accurate results in the best possible turnaround time (TAT). Eurofins companies are well positioned to support clients’ increasingly stringent quality and safety standards and the increasing demands of regulatory authorities as well as the evolving requirements of healthcare practitioners around the world.
The Eurofins network has grown very strongly since its inception and its strategy is to continue expanding its technology portfolio and its geographic reach. Through R&D and acquisitions, its companies draw on the latest developments in the field of biotechnology and analytical chemistry to offer their clients unique analytical solutions.
Shares in Eurofins Scientific SE are listed on the Euronext Paris Stock Exchange (ISIN FR0014000MR3, Reuters EUFI.PA, Bloomberg ERF FP).