Sigma-Aldrich takes over BioReliance for $350m
Sigma-Aldrich, a life science and high technology company, has completed its purchase of BioReliance from Avista Capital Partners for $350m in cash.
The transaction is subject to normal post-closing adjustments.
BioReliance will become part of SAFC, the custom manufacturing and services business unit of Sigma-Aldrich.
The acquisition is expected to be modestly accretive to Sigma-Aldrich's diluted earnings per share in 2012, the company said.
Sigma-Aldrich has funded the acquisition with a combination of existing cash and credit facilities.
BioReliance provides services such as biologic, specialized toxicology and animal health testing to pharmaceutical, biopharmaceutical, diagnostics, and other life science customers.
Sigma-Aldrich president and CEO Rakesh Sachdev said that BioReliance's global biopharmaceutical testing services will enable them to build a specialized services platform that complements their existing products and technology strengths.
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