Porvair makes US acquisition

Porvair is paying an initial US$8.0 million in cash for JGF, with a further deferred cash payment of up to US$6.0 million, payable in the years ending 30 November 2018 and 2019, subject to certain growth targets during the years ending 31 March 2018 and 2019.

Porvair sees a good fit between JGF and its current life science and biotechnology activities, with the acquisition bringing manufacturing capabilities and strong US distribution. Porvair says that opportunities exist for combining manufacturing and marketing activities.