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Soaking up some UVP rays
JENA, Germany—In early April, Analytik Jena AG announced that it had signed a contract, with the approval of its supervisory board, for the acquisition of all shares of UVP LLC, an Upland, Calif.-based provider of imaging systems for genomics, proteomics and plant/animal sciences. The transaction was scheduled to close April 5 with a transfer of the shares.
In conjunction with its acquisition of UVP, Analytik Jena has also acquired Ultra-Violet Products Ltd., a wholly owned subsidiary of UVP based in Cambridge, the United Kingdom. No financial details were disclosed.
Leighton Smith, president and CEO of UVP, says the transaction was in the works a little less than a year. Analytik Jena was contacted in June 2012, he notes, and a non-disclosure agreement was signed by the end of the month. Following the acquisition, UVP will retain its current employees and facilities, according to Smith, and will operate as part of Analytik Jena's Life Science business unit.
"Analytik Jena recognized the growth potential of our product portfolio, strong brand name, global distribution network and our technical and manufacturing expertise," says Smith. "With the acquisition of UVP, Analytik Jena significantly expands its Life Science business unit, gains access to U.S. distribution, expands its product portfolio with complementary products and now owns a world-class manufacturing operation located in the U.S. This is besides a number of other strategic synergies that will grow our global presence."
UVP offers bioimaging systems and ultraviolet products for both laboratory and industry use. The company's imaging systems support applications such as Western blots, in-vivo imaging, 2D gels, electrophoresis stained gels, DNA/RNA and fluorescent, chemiluminescent and bioluminescent imaging. As a leading developer of ultraviolet products, UVP offers a wide range of options, including handheld, compact, bench and high-intensity UV lamps, as well as UV crosslinkers, cabinets, incubators, transilluminators and PCR systems. The company, Smith notes, is "a specialist at customizing camera integration and control via in-house-developed software automation tools," which "enables UVP to supply customers with application-specific solutions, whether an entry- or advanced-level system."
In financial year 2012, the UVP group reported sales of approximately $17.2 million, with over half of its sales in North America.
"This is an exciting time to be part of the imaging business. The optical imaging market is being driven by a variety of needs from customers who are focused on ease of use and expansion to new applications," says Sean Gallagher, chief technology officer of UVP. "The new higher-performance CMOS and CCD sensors are helping to drive speed and sensitivity at a reasonable cost, and the expansion of simple-to-use touch interface computers has made 'one-touch' image capture a reality. The availability of an ever-increasing number of fluorescent tags to identify proteins and nucleic acids as well as track living cells in animals and plants continues to drive new applications and optical requirements."
Analytik Jena did not respond to requests for further information, but the company did note in a press release that it expects a significant increase in revenues and earnings figures in its Life Science business unit as a result of the acquisition. "Numerous synergies" are also expected. In an April 23 ad-hoc notification, the company noted that it is forecasting sales for 2012-2013 to exceed $130 million "for the first time in the company's history."
Analytik Jena expects to see sales for its 2013-2014 financial year, which begins in October, above 40 million euros (approximately $52 million), with operating earnings in the range of 4 percent to 7 percent. The company intends to enter the U.S. market as a result of this acquisition with the products from its Life Sciences business unit.