Business & Finance
Mesa Labs closes acquisition of Gyros Protein Technologies for cash consideration of USD180m
12 November 2019 -

Quality control company Mesa Laboratories Inc (NASDAQ:MLAB) revealed on Monday the completion of the acquisition of Gyros Protein Technologies Holding AB (GPT) from AP6, Ampersand Capital Partners and shareholders for a purchase price of USD180m in cash.

Headquartered in Uppsala, Sweden, GPT is a leading provider of Immunoassay and Peptide Synthesis solutions that accelerate the discovery, development and manufacturing of biotherapeutics.

Additionally, GPT's acquisition is expected to add between USD37m to USD40m of revenues during the first 12 months (of which approximately 55% is recurring in nature) as well as deliver double digit organic revenues growth over the next several years.

Through the acquisition of GPT, the company expects adjusted operating income as a percentage of revenues to be in the mid-teens for the first 12 months. Revenues for the remaining five months of FY20 are expected to be USD13m-USD15m.

In conjunction, GPT's acquisition deepens Mesa's commitment to biopharmaceutical quality control and will be the core of its new platform, Biopharmaceutical Development.