PCP Announces Sale of EnvironeX Group Inc. to Eurofins
MONTREAL – October 31, 2018 - Persistence Capital Partners (“PCP”), a leading Canadian healthcare-focused private equity fund, is pleased to announce the sale of EnvironeX Group Inc. (“EnvironeX”) to Eurofins Scientific (EUFI.PA), a global scientific leader in bioanalytical testing (“Eurofins”).
Founded in 2005 by Marc Hamilton and supported by PCP since 2015, EnvironeX is a leading provider of Testing services to the Environment, AgriFood and Health & Pharmaceuticals sectors in Quebec, Canada. EnvironeX operates three laboratories and one service point, employs 275 staff and is expected to generate ca. CAD30m of revenues in 2018. EnvironeX has grown steadily over the last decade, servicing a broad customer base, including industrial clients, municipalities, engineering firms and environmental consultants in sectors such as Agrifood, Agriculture, Health and Pharmaceuticals.
EnvironeX will complement Eurofins’ environment testing footprint in Canada, which employs over 180 staff and operates from four laboratories and three service centres. The additional staff, locations, coverage and technical expertise will promote Eurofins’ growth agenda in Canada, and its global commitment to the environment testing sector.
"PCP is proud to have invested in EnvironeX. Today, the Company is the benchmark for service and excellence in the environmental testing space in Canada. This excellence has allowed the Company to experience significant growth and expand its service offerings over the last number of years,” said Stuart M. Elman, Managing Partner at PCP. “For the second time, it has been a privilege to collaborate and support a strong Quebec entrepreneur in Marc Hamilton and his team, as they set new standards for innovation and service, allowing PCP to deliver outstanding returns to our investors. We wish them continued success as they become part of Eurofins, a global leader in the sector."
Stuart M. Elman
Managing Partner, Persistence Capital Partners
For more information about Eurofins Scientific, please visit www.eurofins.com or contact:
Phone: +32 2 766 1620