Minneapolis, October 5, 2018 — The Corporate and International practices at Cozen O’Connor represented Eurofins Scientific SE in the acquisition of TestAmerica Environmental Services LLC (TestAmerica) from JSTI Group. The transaction is valued at $175 million on a cash-free, debt-free basis. The transaction is expected to close in the fourth quarter of 2018, subject to the fulfillment of regulatory and customary closing conditions.
Eurofins Scientific is a scientific leader in food, environmental, and pharmaceutical products testing and in agroscience CRO services. It is also one of the independent market leaders in certain testing and laboratory services for genomics, discovery pharmacology, forensics, CDMO, advanced material sciences, and supporting clinical studies. In addition, Eurofins is one of the emerging players in specialty clinical diagnostic testing in Europe and the United States. Eurofins has more than 38,000 staff in more than 400 laboratories across 44 countries and is listed on the Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).
TestAmerica, which became part of JSTI through its 2016 acquisition, operates a network of 24 full-service testing laboratories and 40 service centers through the U.S. TestAmerica employs more than 2,000 staff. JSTI Group is headquartered in Nanjing, China, and is listed on the Shenzhen Stock Exchange (300284.SZ).
Steven J. Dickinson led the Cozen O’Connor team on the transaction. The team included Barbara Müller, Evan Berquist, Jonathan M. Grossman, Thomas Ingalls, Heather L. Marx, Matthew D. Clyde, and Robert K. Magovern. TestAmerica was represented by Hylands Law Firm and Akerman LLP.
Cozen O’Connor’s Corporate Practice provides sophisticated counsel to a diverse set of businesses and entrepreneurs. The firm’s corporate attorneys assist clients from a wide range of industries in issues related to regulatory compliance, corporate governance, mergers and acquisitions, tax, securities, finance, bankruptcy, and health law. Its M&A attorneys represent Fortune 500 and other multinational companies in their largest acquisitions and act as lead corporate counsel for small and middle-market businesses. The firm’s International Practice represents non-U.S. companies in all aspects of U.S. acquisitions, joint ventures, and business operations.
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Established in 1970, Cozen O’Connor has more than 825 attorneys who help clients manage risk and make better business decisions. The firm counsels clients on their most sophisticated legal matters in all areas of the law, including litigation, corporate, and regulatory law. Representing a broad array of leading global corporations and middle market companies, Cozen O’Connor services its clients’ needs through 31 offices across two continents.