MICROMERITICS INSTRUMENT CORPORATION acquired by SPECTRIS

Spectris plc has agreed to acquire 100% of Micromeritics Instrument Corporation. The acquisition, which constitutes a Class 2 transaction under UK Listing Rules, will be funded through existing cash and new external debt. Upon completion, Micromeritics will be integrated with Malvern Panalytical within the Spectris Scientific division. The strategic rationale is to create the global market leader in particle characterisation for advanced materials analysis. By combining Micromeritics’ expertise in surface area and porosity with Malvern Panalytical’s capabilities in size and distribution, Spectris will offer a fully integrated workflow from R&D to QC/QA. The transaction is highly synergistic, with expected run-rate cost synergies of $12 million and significant revenue upside through cross-selling and geographic expansion, particularly in North America and Japan. The deal is expected to be immediately accretive to earnings and margins, supporting Spectris' medium-term objective of 20%+ operating margins.

By taking control of Micromeritics Instrument Corporation, Spectris continues its expansion strategy. Previously, the group had completed 3 acquisitions, including Dytran Instruments in 2022.