Eurofins Scientific Sells Its MET Labs Division for 575 Million Euros
Eurofins Scientific has announced the signing of an agreement to sell its Electrical & Electronic Testing division (MET Labs) to UL Solutions Inc. for an enterprise value of 575 million euros. This transaction is part of the group's strategy to refocus on its life testing capabilities.
Overview of MET Labs
MET Labs is an international network of laboratories offering product safety testing, inspection, and certification services for electrical and electronic products. The division serves clients in consumer electronics, automotive, telecommunications, and industrial sectors, ensuring compliance with international safety and performance standards. MET Labs is expected to generate over 180 million euros in revenue by 2026, with profitability generally in line with the group's average, and employs approximately 1,300 staff worldwide.
Use of Sale Proceeds
Eurofins states that the proceeds from this sale will fuel the group's capital allocation priorities, including debt reduction, investment in owned laboratories and sites, next-generation digital solutions, developments in robotics and artificial intelligence, share buybacks, and strategic acquisitions aimed at strengthening the group's market positions in the fields of food, environmental, pharmaceutical, clinical, and related testing.
Transaction Completion
The completion of the transaction remains subject to customary regulatory approvals and is expected to occur by the end of the year 2026.
