Malvern Panalytical Agrees to Acquire Micromeritics, to Become World Leaders in Materials Characterization

Spectris PLC (LSE:SXS)

MALVERN, UNITED KINGDOM, July 16, 2024 /EINPresswire.com/ -- Malvern Panalytical, a global leader in the analytics of material and life sciences, today announces it has agreed to acquire Micromeritics** - a world leader in analytical instrumentation for the physical characterization of particles, powders, and porous materials.

Headquartered in Norcross, Georgia (USA), Micromeritics’ technologies enable the comprehensive characterization of particles by detailing their size, count, surface properties and behavior, for fundamental research, product development and production quality control. Malvern Panalytical offers a diverse range of physical, structural, and elemental analysis products.

When combined with the comprehensive suite of analytical technology at Micromeritics, Malvern Panalytical will provide the broadest material characterization offering in the market, offering a single suite of integrated instruments from a single manufacturer to support the entire customer workflow. This combination will improve customer workflow efficiency and enable deeper analytical insights.

This acquisition is for an upfront consideration of $630 million plus a deferred element up to $53 million. Micromeritics 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 President of Malvern Panalytical. Terry will be a key member of the Spectris Scientific leadership team.

Derek Harding, current CFO at Spectris and soon-to-be President of Spectris Scientific, said: “Together, Micromeritics and Malvern Panalytical provide a unique opportunity to create a leading and highly differentiated position and a fully integrated offering in material characterization. 

“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, President and CEO at Micromeritics, said: "Micromeritics is a world leader in particle characterization. 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 announcement follows the recent acquisition of SciAps by Malvern Panalytical, whose handheld portfolio used in the field complements Malvern Panalytical's existing range of laboratory and benchtop equipment.

**The acquisition agreement is subject to approval from US authorities. Until approval is received, and the transaction completes, Spectris, Malvern Panalytical and Micromeritics will continue to operate as usual and as independent businesses.

About Malvern Panalytical
Malvern Panalytical is a global leader in the analytics of material and life sciences. We unleash the power of small things to make big things happen for our customers. Our vision is to make the world cleaner, healthier, and more productive. We partner with our customers to make their solutions possible through the power of precision measurements, our expertise, trusted data, and insights. Our people are partners in discovery. We collaborate with our customers and with each other to discover new possibilities and achieve breakthroughs. Our culture is a healthy, high-performance culture shaped by our values: Own it, Aim High and Be True. We’re committed to Net Zero in our own operations by 2030 and in our total value chain by 2040. With over 2300 employees across the globe, we are part of Spectris plc, the world-leading precision measurement group.

Malvern Panalytical. We’re big on small™

About Spectris
Spectris combines precision with purpose, delivering progress for a more sustainable world. We provide critical insights to our customers through premium precision measurement solutions combined with technical expertise and deep domain knowledge. Precision is at the heart of what we do - our leading, high-tech instruments and software equip our customers to solve some of their greatest challenges to make the world cleaner, healthier and more productive.

We are focused on two key divisions – Spectris Scientific and Spectris Dynamics, which are placed in technology-driven end markets, with strong fundamentals and attractive growth trajectories. We have leading market positions in premium segments and employ 7,000 people located in more than 30 countries, all united behind our purpose to deliver value beyond measure for all our stakeholders.

About Micromeritics
Micromeritics Instrument Corporation is the world’s leading manufacturer of high-performance systems to measure density, surface area and porosity, powder rheology and catalyst activity. The company is headquartered in Norcross, Georgia, USA with manufacturing sites in the U.S. and Europe, and direct sales operations throughout North America, Europe, and Asia.

Lisa Newey-Keane
Malvern Panalytical Ltd.
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