Smithers Group adds to stable with Rapra purchase
announced the acquisiton of UK company Rapra Technology in a deal
that seals the fate of Rapra, which was forced into Administration
last month.
The deal adds to the Smithers stable, which includes Synomics Pharma Services and is based alongside Springborn Smithers Laboratories in the US. Synomics offers a analytical based research services to support the development and manufacturing of pharmaceutical and biotechnology healthcare products.
"Rapra will provide a critical link to the UK and European markets, particularly in the automotive and pharmaceutical sectors," commented Rapra CEO and President, Michael Hochschwender.
"Its diverse range of analytical, testing, research and information services to the rubber and plastics industry complements our activities in the US," he added. No financial details of the transaction were disclosed.
>Rapra now becomes a wholly owned subsidiary of The Smithers Group, which comprises Smithers Scientific Services, Smithers Quality Assessments, Springborn Smithers Laboratories and Synomics Pharma Services.
Rapra's 118 members of staff will be transferred to the Smithers Group which already employs 500 people in the US and Europe.
Rapra commented that the acquisition has interrupted progress on a strategic growth plan that the company had initiated before they went into administration. However, they added that the support provided by The Group was welcomed.
>The Smithers Group, also consists of Smithers Scientific Services, Smithers Quality Assessments, Springborn Smithers Laboratories and Synomics Pharma Services, has emerged as one of the main players of the outsourcing landscape in the US.
The latest acquisition will add analytical, testing and processing laboratories facilities that compliment technology, information and consultancy services.
