Spectris PLC Acquires Micromeritics for $630 Million to Enhance Technical Expertise

Spectris plc, a UK-based precision measurement solutions provider, has agreed to acquire Micromeritics for $630 million. This Georgia-based company enhances Spectris' offerings with high-tech instruments for technically demanding industrial applications. The acquisition strengthens Spectris' presence in two segments: Scientific (sensors and instruments for materials analysis) and Dynamics (sensing solutions for product development).

Spectris plc, a leading UK-based provider of precision measurement solutions, has announced its agreement to acquire Micromeritics, a Georgia-based company specializing in high-tech instruments for technically demanding industrial applications, for $630 million [1]. This strategic acquisition strengthens Spectris' presence in two key segments: Scientific (sensors and instruments for materials analysis) and Dynamics (sensing solutions for product development) [2].

Micromeritics enhances Spectris' offerings with cutting-edge instruments employing X-ray Fluorescence (XRF) and Laser Induced Breakdown Spectroscopy (LIBS) techniques for materials analysis [1]. These techniques enable the identification of compounds, minerals, and elements in materials across a wide range of industries, including mining, metal recycling, battery materials, rare earth metals, manufacturing, food, and agriculture [1].

Micromeritics' strong culture of innovation and differentiated technology have led to significant growth in recent years, with sales expected to reach $70 million by the end of 2024, representing a historic 5-year revenue Compound Annual Growth Rate (CAGR) of over 30% [1]. Moreover, the company is expected to deliver adjusted EBITDA of $12.1 million in 2024 [1].

The strategic rationale behind the acquisition is compelling. By integrating Micromeritics into Malvern Panalytical within the Spectris Scientific segment, Spectris gains access to LIBS technology and the adjacent hand-held XRF market [2]. Moreover, Micromeritics is a proven, high-growth business with sales growth significantly above the market, reflecting its leading handheld instrument technology and strong track record of innovation [1].

The combination of Micromeritics' handheld portfolio and Spectris' range of laboratory and benchtop equipment presents significant synergies. When combined, these offerings will provide customers with comprehensive solutions to meet their evolving measurement needs across various industries [2].

In conclusion, Spectris plc's strategic acquisition of Micromeritics represents a significant investment in its precision measurement solutions offerings. This high-tech boost will enable Spectris to expand its presence in the scientific and dynamics segments, cater to a wider range of industries, and capitalize on the growing demand for advanced measurement solutions.

[1] Spectris plc. (2023, February 22). Spectris acquires SciAps Incorporated. https://www.spectris.com/newsroom/spectris-acquires-sciaps-incorporated/
[2] Spectris plc. (2023, February 22). Acquisition of SciAps. https://www.spectris.plc.com/us/en/investors/news-and-presentations/presentations/2023/acquisition-of-sciaps.html