Malvern Panalytical to acquire Micromeritics
July 16, 2024
Malvern Panalytical, part of Spectris plc, Egham, Surrey, UK, has announced that it has agreed to acquire Micromeritics, a company focused on analytical instrumentation for the physical characterisation of particles, powders, and porous materials headquartered in Norcross, Georgia, USA.
Micromeritics’ technologies enable the comprehensive characterisation of particles by detailing their size, count, surface properties and behaviour, for fundamental research, product development and production quality control. Malvern Panalytical offers a range of physical, structural, and elemental analysis products.
With the addition of Micromeritics’ suite of analytical technology, Malvern Panalytical aims provide the broadest material characterisation offering in the market. It will offer a single suite of integrated instruments from a single manufacturer to support the entire customer workflow, thereby improve workflow efficiency and enabling deeper analytical insights.
This acquisition is for an upfront consideration of $630 million plus a deferred element of up to $53 million. Micromeritics reportedly has a strong financial track record, delivering a sales CAGR of 17% between 2021 and 2024E, with sales expected to grow beyond 2024.
As part of the acquisition, Terry Kelly, president and Chief Executive of Micromeritics, has agreed to join the group as Malvern Panalytical President. Kelly will be a key member of the Spectris Scientific leadership team.
“Together, Micromeritics and Malvern Panalytical provide a unique opportunity to create a leading and highly differentiated position and a fully integrated offering in material characterisation,” Derek Harding, current CFO at Spectris and soon-to-be president of Spectris Scientific, said. “Micromeritics is an excellent business with a strong track record of growth and innovation and excellent future growth prospects. It will be a great addition to Malvern Panalytical and will strengthen our position in a number of key end markets benefiting from long-term, secular and sustainability growth trends, as well as accelerating sales of each other’s offerings. We look forward to welcoming the Micromeritics team and providing our customers with a wider portfolio of market leading solutions, helping to enhance their processes and productivity.”
Terry Kelly added, “Micromeritics is a world leader in particle characterisation. Our market-leading technologies are used daily in the labs of the world’s most innovative companies and institutions. Our end markets are strong and growing, and we have a robust new product pipeline. The integration with Malvern Panalytical is powerful. Together our companies will be able to unlock more answers for customers and provide expert applications and technical support that cannot be matched by any other company. The last four and a half years have been an exciting period of growth for Micromeritics, it was a great partnership with SFW Capital. The acquisition by Malvern Panalytical is a perfect fit for our technologies, our customers, and most importantly our people.”
This follows Malvern Panalytical’s recent acquisition of SciAps, whose handheld portfolio used in the field complements its existing range of laboratory and benchtop equipment.
www.malvernpanalytical.com/en/
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