Mesa Labs this week announced it is acquiring Sweden-based Gyros Protein Technologies for a cash consideration of $180 million.
The acquisition is expected to add between $37 million to $40 million in revenue during the first 12 months, according to Mesa Laboratories. The company also adjusted its operating income as a percentage of revenues to be in the mid-teens for the first 12 months. Revenues are expected to be between $13 million and $15 million for the remaining five months of the fiscal year 2020, the company said.
Gyros Protein Technologies provides immunoassay and peptide synthesis solutions for the discovery, development and manufacturing of biotherapeutics.
“GPT brings an innovative approach to protein analytics in biopharmaceutical quality control and process development. The Gyrolab immunoassay solution is a proven, microfluidic driven platform that increases repeatability and throughput while minimizing sample size and manual handling,” president and CEO of Mesa Gary Owens said in a news release. “The company also provides a leading peptide synthesis platform delivering the highest quality peptides in particular, for the longer and more complicated sequences that are of vital interest to many applications, including that of therapeutic peptides and neoantigen therapies. We believe that the Mesa Way approach to continuous improvement will help the GPT team to continue to rapidly scale both commercially and operationally.”
“We are proud of the track record we have improved the processes for developing biotherapeutics. Superior technology backed by deep customer intimacy has been the foundation of our success and we felt the same spirit of innovation at Mesa,” president of Gyros Protein Technologies Dan Calvo said. “We look forward to working with the Mesa team to expand the applications we deliver and deepening our level of customer support.”