Waters Corp. Acquires Environmental Testing Firm
Waters Corp. in Milford has agreed to acquire all the outstanding stock of Environmental Resource Associates Inc. (ERA), an Arvada, CO-based firm for an undisclosed amount.
Waters Corp. in Milford has agreed to acquire all the outstanding stock of Environmental Resource Associates Inc. (ERA), an Arvada, CO-based firm for an undisclosed amount.
ERA, a privately-held company specializing in proficiency testing of environmental and pharmaceutical laboratories, has current annual revenues of approximately $17 million, and the acquisition is expected to be neutral to Waters Corp.'s earnings in 2007.
The transaction is expected to complete by the end of the year, and Waters vice president of Chemical Operations Ian King expects that the purchase will help the company to grow. "Environmental testing is a significant growth market for the company and the addition of ERA improves our access to this customer base."
Waters Corp. holds positions worldwide in three analytical technology markets: liquid chromatography, mass spectrometry and thermal analysis, accounting for $5 billion of the overall $20-$25 billion analytical instrument market.
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