Acquisition Waters completes acquisition of light scattering specialist Wyatt Technology
Waters Corporation announced it has completed its acquisition of Wyatt Technology, a pioneer in innovative light scattering and field-flow fractionation instruments, software, accessories, and services. With the acquisition of Wyatt, Waters wants to accelerate its ability to build a high-growth business in bioanalytical characterization for new modalities.
With more than 80 percent of its rapidly growing revenues tied to large molecule applications, the acquisition of Wyatt accelerates Waters' ability to build a high-growth business in bioanalytical characterisation for new modalities. This includes cell and gene therapies, which represents a significant opportunity with a 1.8 billion dollars total addressable market and 10-12 percent projected annual growth. Wyatt's highly complementary analytical technologies, together with Waters' global reach and expertise in simplifying sophisticated techniques for high-volume applications, positions Waters to better serve the fast-growing needs of its global customers.
As previously announced, the transaction is expected to be immediately accretive to Waters' revenue growth and margin profile. Additionally, Waters expects to generate over 70 million dollars in annual revenue synergies by the fifth year following transaction close. The transaction is also expected to be accretive to Waters' adjusted earnings per share beginning in Q1 2024 and to deliver a high single-digit plus adjusted return on invested capital in year five, net of tax.