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SYNLAB agrees to acquire ALcontrol

Munich, 19 May 2017 – SYNLAB Limited (also "SYNLAB", and together with its subsidiaries the “Group”), the leading provider of laboratory services in Europe, today announces an agreement to acquire ALcontrol Group Limited (hereinafter: "ALcontrol"), a major European provider of environmental testing services. Upon closing of the transaction, SYNLAB will expand into the Netherlands, Sweden and Denmark, which are markets that are highly complementary to the Group’s current footprint. The acquisition will also substantially expand SYNLAB’s Environmental Business Unit.

ALcontrol has expertise in the field of environmental laboratory diagnostics, including testing for the clean-up and monitoring of soil, ground and drinking water; food and consumer health; oil, fuel and asbestos. Testing services are carried out across a network of 13 laboratories, several service centres, regional sales and service offices and over 400 pick-up and drop-off points across ten European countries. ALcontrol runs laboratory supersites located in Rotterdam, Netherlands, and Linkoping, Sweden. 

ALcontrol’s customers include leading multinational companies and national and regional public institutions. ALcontrol’s wide geographic coverage and high accreditation level, combined with SYNLAB’s existing infrastructure, will create an even more compelling offering to large multi-national customers and cross-border assignments. 

With approximately 900 employees, ALcontrol generates revenues of close to EUR 95 million. 

Dr Bartl Wimmer, CEO of SYNLAB Group: “The expansion of our laboratory network and testing services portfolio through the acquisition of ALcontrol is a big step for SYNLAB’s Environmental Business Unit as it significantly extends our customer range in Europe. SYNLAB and ALcontrol are natural partners since both companies have operations in different parts of the European Union. SYNLAB offers a broad and deep diagnostics portfolio whereas ALcontrol has extensive expertise in high-throughput processing, further enabled by sophisticated IT services.” 

Lutz Eckardt, CEO of SYNLAB Environmental Business Unit: “By joining our forces, SYNLAB unlocks strong growth opportunities, partly generated by the development of further cross-border operations. Additional opportunities arise due to SYNLAB’s position as full-service provider to the hospital sector.” 

Simon Gibbs, CEO of ALcontrol: “Becoming part of the SYNLAB Group extends our capabilities to better service our existing customers. For our employees, joining the SYNLAB family means 

working with people who have similar values and strong scientific skills that will provide opportunity, growth and stability.” 

The transaction, which will be funded from available balance sheet resources of the Group, is subject to customary approval from the relevant regulatory authorities. Closing of the transaction is expected to take place as soon as practicable after such approval has been obtained but no later than nine months from the date of agreement.