SciAps, Inc. (“SciAps”), a leading supplier of handheld analytical instruments used to identify critical elements, minerals, and compounds in major industries around the world, has agreed to be sold to Malvern Panalytical (“Malvern”), a subsidiary of Spectris plc (LON: SXS, “Spectris”) for consideration of up to $260 million comprising up-front consideration of $200 million plus a deferred element of up to $60 million payable on the delivery of agreed financial metrics.

Founded in 2012, SciAps designs and manufactures handheld analytical instruments used to identify critical compounds, minerals, and elements. The Company’s current portfolio of leading analyzers is underpinned by two proprietary technology platforms capable of measuring every stable element on the periodic table: XRF: X-Ray Fluorescence and LIBS: Laser-Induced Breakdown Spectroscopy. For year ending 31 December 2024, SciAps is expected to deliver sales of $70 million, representing an historic 5-year revenue CAGR of over 30%, and adjusted EBITDA of $12.1 million.

Spectris is a London-based publicly traded company that supplies measuring instruments for research and industrial applications in industries such as pharmaceuticals, mining, and academic research. Spectris has approximately 7,500 employees throughout its global operations.

EC M&A acted as exclusive financial advisor to SciAps on this transaction.