At what enterprise value was COVANCE FOOD SOLUTIONS acquired in 2018?

During the acquisition of COVANCE FOOD SOLUTIONS by EUROFINS SCIENTIFIC in 2018, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 500M - 1.5b USD. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Business Services industry currently tracks an average EBITDA multiple of 11.1x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of COVANCE FOOD SOLUTIONS when it was acquired by EUROFINS SCIENTIFIC?

The estimated EV/EBITDA multiple for COVANCE FOOD SOLUTIONS is in the range of Above 20x. For comparison, the Business Services sector currently shows an average EBITDA multiple of 11.1x. Join our community for free to access full valuation data and industry trends.

What was the revenue of COVANCE FOOD SOLUTIONS at the time of the deal?

The revenue of COVANCE FOOD SOLUTIONS at the time of the deal is estimated to be in the range of 100M - 200M USD. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of COVANCE FOOD SOLUTIONS during the acquisition?

COVANCE FOOD SOLUTIONS's EBITDA is estimated to be in the range of 10M - 30M USD. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the COVANCE FOOD SOLUTIONS acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the COVANCE FOOD SOLUTIONS deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://eurofinscentrallaboratory.com/wp-content/uploads/2018/07/Eurofins-Covance-Food-Solutions_Final.pdf

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04/2018

COVANCE FOOD SOLUTIONS acquired by EUROFINS SCIENTIFIC

UNITED STATES Industrial Services / TIC (Testing, Inspection, Certification) EV 500M - 1.5b USD

Context

Eurofins Scientific has signed a definitive agreement to acquire Covance Food Solutions from LabCorp (which originally acquired the business through its 2015 purchase of Covance). The strategic rationale for the acquisition is to enhance Eurofins’ footprint in North America, the UK, and Asia while adding a high-quality portfolio of food product testing and consulting services. Because the two organizations have complementary geographic reaches and service offerings, no restructuring is required. Instead, Eurofins expects to realize top-line synergies through cross-selling to each organization’s existing client base. This divestiture allows LabCorp to focus on its core mission of improving health and lives, while positioning Covance Food Solutions within a group dedicated specifically to global food quality and development.

COVANCE FOOD SOLUTIONS, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN than the average currently observed in the Business Services sector (11.1x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

-> Deep-dive in Business Services market trends

Target

Covance Food Solutions is a global provider of product integrity, safety, and consulting solutions across the entire food supply chain. The organization operates an integrated network of 12 facilities, including nine in the US, two in the UK, and one in Asia. It offers a comprehensive suite of routine and specialized laboratory testing services focused on ensuring the quality and safety of food, beverage, and supplement products. The entity specializes in helping clients adhere to internal and external standards for both existing and in-development products. With a workforce of 850 employees, the group is recognized for its scientific excellence and harmonized processes, delivering data-driven insights to a diverse international customer base.

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10/2017	PARQUEST CAPITAL	GROUPE ASERTI	FRANCE	Industrial Services	Parquest Capital, in partnership with the existing management team, has completed the acquisition of Groupe Aserti from Galiena Capital. Under the leadership of founder and CEO Jean-Louis Gaertner, the corporate leadership team co-invested alongside Parquest to ensure operational continuity
06/2017	ELEMENT MATERIALS TECHNOLOGY	EXOVA GROUP	UNITED KINGDOM	Industrial Services	Element Materials Technology has completed the acquisition of Exova Group PLC, joining two of the world's leading testing companies to create a single global TIC powerhouse. The deal was won following a competitive process involving other major bidders, including PAI Partners and Jacobs Holding AG
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05/2017	ARDIAN	ASSYSTEM GLOBAL PRODUCT SOLUTIONS	FRANCE	Industrial Services	Assystem entered into an agreement to sell a majority stake in its Global Product Solutions (GPS) division to Ardian. The transaction was structured as a carve-out where GPS was transferred to a new entity controlled by Ardian
05/2017	ADVENT INTERNATIONAL	IPH GROUP	FRANCE	Industrial Services	Advent International has acquired IPH from PAI Partners as part of a private equity transaction aimed at creating a leading European distributor of industrial supplies. The deal follows several years of steady growth under PAI's ownership, during which IPH was transformed into a pan-European B2B technical distribution platform

REFERENCES

Valuation range: EV 500M - 1.5b USD

Revenue range: 100M - 200M USD

EBITDA range: 10M - 30M USD

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of COVANCE FOOD SOLUTIONS by EUROFINS SCIENTIFIC are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: eurofins scientific