Sigma-Aldrich Acquires Epichem Group Limited to Expand SAFC Hitech Capabilities
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Sigma-Aldrich Corporation announced that it has acquired all of the outstanding shares of Epichem Group Limited of Bromborough, United Kingdom, to expand its SAFC Hitech business offering. The purchase price of $60 million was paid in cash. The acquisition of Epichem's $40 million in annual revenues is expected to help Sigma-Aldrich achieve its growth goals in key high technology markets over the next several years and will be neutral to mildly accretive to earnings in 2007, with no significant initial charges.
Barry Leese, Managing Director of Epichem, its majority equity holder and one of the founders of the company has been appointed President of the SAFC Hitech business segment. Epichem management and employees will remain in place.
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