Waters to Acquire Environmental Resource Associates (ERA), Leader in Environmental Laboratory Proficiency Testing
Waters Corporation announced it has entered into an agreement to acquire all the outstanding capital stock of ERA, a privately held company located in Arvada, Colorado, U.S.A., for an undisclosed amount. The transaction is expected to be complete before the end of 2006. Current annual revenues for ERA are approximately $17 million and the acquisition is expected to be neutral to Waters Corporation's ("the Company") earnings in 2007.
Commenting on the planned acquisition, Ian King, Vice President of Chemical Operations at Waters said, "Environmental testing is a significant growth market for the Company and the addition of ERA improves our access to this customer base. ERA is recognized as a market leader in laboratory proficiency testing with highly dedicated and professional management and talented employees. Combining the strengths of the Company's analytical technologies with ERA's leading testing services will create new business opportunities, especially in emerging geographies where method standardization and calibration are increasingly in higher demand."
Dr. Carl Craig, ERA Vice President of Sales and Marketing, commented, "We're very excited with the prospect of expanding ERA's international business while continuing to build upon our leadership position in the U.S.A. in the environmental proficiency testing and pharmaceutical reference materials markets."
Source: Waters Corp.