Exova Group plc, the global testing, calibration and advisory services provider, announced today that it has completed the sale of its Environmental East business in Canada to international life sciences company, Eurofins, for a cash consideration of around C$13m.
The sale consists of a portfolio of five well-established, accredited laboratories and two depots across the Eastern provinces of Ontario and Quebec. These provide testing services across a wide range of activities including drinking and waste water analysis, soil testing, ambient air quality testing, asbestos testing, eco-toxicity testing and stack sampling.
Exova’s Environmental testing business in Eastern Canada generated revenues of around C$19m in 2015.
Ian El-Mokadem, Chief Executive Officer at Exova, said: “The sale of our Environmental East business provides more evidence of our intention to continue to focus our resources on building and strengthening our market leading positions in the provision of technically demanding services. We aim to continue to grow our business organically and remain confident of our ability to strengthen our business with further well executed acquisitions.”