Sartorius to Sell Its Industrial Technologies Division to Minebea Co., Ltd
Goettingen — Sartorius, a leading international laboratory and
pharmaceutical equipment provider, is selling its Industrial Technologies Division (Intec) to
the Japanese Minebea Co., Ltd. (Minebea) and their partner, the Development Bank of Japan
Inc. The respective contract was signed today. The sales price will be determined as a multiple
of the Intec division’s 2014 operating profit and be fixed in early 2015. The contractual
parties agreed on a 7.5 multiple on the division’s 2014 operating EBITDA. The transaction is
subject to customary closing conditions, including regulatory clearance by the antitrust
authorities, and is expected to close in the first quarter of 2015.
“By selling our Intec Division to Minebea, we are realizing an important cornerstone of our
long-term strategy and focus on our two core activities in Bioprocess and Laboratory. Over
the past years we have successfully positioned our Intec business as a specialist for industrial
weighing and control technologies and have reached healthy profitability levels. Under
Minebea`s roof, this business will now gain the critical mass needed to further extend its
footprint internationally, an important prerequisite for further growth. I am convinced that
Minebea is the perfect new owner for this business because of the complementarity of the
product portfolios and the geographical footprint, and also because of their commitment to
long-term strategies and premium products,” commented Joachim Kreuzburg, CEO and
Chairman of the Executive Board of Sartorius.
The smallest division in the Sartorius Group, Intec recorded sales revenue of 102 million euros
for fiscal 2013; its underlying EBITDA margin attained 10.1% at year-end in the prior
reporting period. The division employs around 700 people worldwide, 350 of whom work at
its German sites in Hamburg, Aachen and Bovenden. The Intec business will complement the
Measurement Components business unit at Minebea, which will take on all Intec Division
staff.

