Pall Corp. Signs Agreement with ATMI
News Dec 27, 2013
Pall Corporation has announced that it has entered into a definitive agreement with ATMI, Inc. to acquire the ATMI LifeSciences business for $185 million.
ATMI LifeSciences is a technology leader in the field of single-use bioprocess systems and consumables for the pharmaceutical and biopharmaceutical industries.
The transaction, which is expected to close in Pall’s fiscal third quarter, is subject to certain closing conditions, regulatory approvals and labor-related notifications.
“This acquisition immediately strengthens our offering and broadens our already extensive portfolio of advanced solutions for biopharmaceutical customers,” said Larry Kingsley, Pall Chairman and CEO.
Doug Neugold, ATMI’s Chief Executive Officer, said, “We are very happy to have Pall as the new owner of this business, and believe the fit and their capabilities will accelerate its growth and provide great support to our customers.”
For the balance of fiscal 2014, Pall expects the acquisition to add $20 - $30 million in revenue, be $0.05 - $0.08 dilutive to EPS on a GAAP basis and almost breakeven on a cash EPS basis.
Pall reaffirms its total overall fiscal 2014 guidance for pro forma EPS to be $3.30 - $3.50.