2007-10-12 - Eppendorf Acquires New Brunswick Scientific
Eppendorf AG, Hamburg, has successfully acquired sole ownership of New Brunswick Scientific Co., Inc. (NBS), New Jersey, USA. NBS is a global leader in the manufacture of innovative equipment for cell growth, detection and storage. On September 20th, 2007, NBS shareholders ratified the merger agreement, valued at approximately $ 110 million, and NBS shares are no longer publicly traded. Eppendorf considers NBS a perfect fit to continue its growth strategy in important life science markets. Founded in 1946, NBS today employs more than 400 people worldwide. Sales of its products, which range from biological shakers, fermentors and bioreactors to CO2 incubators and ultra-low temperature freezers, exceeded $ 75 million in 2006. NBS operates manufacturing plants at its US headquarters in Edison New Jersey, as well as in the UK. Additionally, it maintains sales and service facilities throughout North America, Europe and Asia.Both Eppendorf and NBS represent successful enterprises in their respective markets. While Eppendorf is traditionally strong in research and biotechnology, NBS adds expertise in the pharmaceutical market as well as microbiological applications. These strengths position both companies for continued growth.Eppendorf’s success in its markets offers excellent opportunities to make additional resources available to NBS in order to fuel growth in many synergetic ways.For the life science research and pharmaceutical development industries, there is a highly complementary product portfolio between the two companies. The product ranges have a natural fit and can be immediately bundled or even integrated into complete solutions. The acquisition by Eppendorf was shaped by mutual consent, combining two brands that value superior qualities: reliability, technological edge and user-oriented prime solutions. With Eppendorf in the lead, the new group company, New Brunswick Scientific, will maintain independence to sustain and ensure financial success.Statement Klaus Fink, CEO Eppendorf AG:“This is a step we took to stay ahead and become more attractive to our customers: Not only to grow in size but in innovative power and technological bandwidth that safely accommodate important future requirements. For our customers, this means receiving quality solutions that they can rely on. Acquiring New Brunswick Scientific will give us a decisive additional edge to complete this endeavour. We are looking forward to pledge ourselves to these objectives.” Statement James Orcutt, CEO New Brunswick Scientific:“We at NBS are very much looking forward to working together with the Eppendorf family. NBS possesses a rich tradition of quality and innovation. We are proud to be continuing that tradition with our most recently introduced products and those currently in development, all of which provide state-of-the-art solutions to our customers. Eppendorf is a world class organization whose investment philosophy will provide the needed resources to attain our strategic growth and profitability objectives through accelerated new product development, optimization of our manufacturing processes and augmentation of our global sales and support network.” About EppendorfEppendorf is a global leader in laboratory equipment and associated consumables. Eppendorf products include liquid handling and centrifugation equipment products including related consumables as well as instruments and systems for PCR, cell technology and micro arrays that are used by researchers in life science, drug discovery, clinical, environmental and industrial laboratories. Founded in 1945, Eppendorf, a privately-held company headquartered in Hamburg, Germany, has revenues of more than $ 400 million, and employs approximately 2,000 people in over 20 countries.