CHELMSFORD, Mass., July 05, 2017 (GLOBE NEWSWIRE) -- Brooks Automation, Inc. (Nasdaq:BRKS) announced today that it has acquired Pacific Bio-Material Management, Inc. (PBMMI), a premier service provider of storage and cold-chain logistics for biological sample materials. Brooks paid $33 million in cash for PBMMI, which is headquartered in Torrance, California. The acquisition includes the operations of the wholly owned affiliate Novare, LLC based in the Bronx, New York. The purchase price is subject to adjustment based on the working capital of the business acquired as of the closing date.
PBMMI has been in business for nearly 20 years, operates sample storage locations in California and New York, and enables more than 250 biotech, pharma, clinical and research customers with regulatory-compliant sample storage, transportation, and cold-chain sample management services. The acquisition of PBMMI is the latest addition to the growing portfolio of Brooks’ Life Sciences products and services, adding significant customer relationships, geographic expansion, and enhanced ability to provide transport and relocation services to customers coast-to-coast across the United States.
“PBMMI is an excellent addition to our BioStorage services as it significantly expands our network of comprehensive sample management services,” said Dusty Tenney, president of Brooks Life Science Systems. “The addition of PBMMI underscores our commitment to providing scalable and cost-effective services so that customers can invest their time and resources on new medical therapies and treatments.”
Welcoming the acquisition, Michael Lebbin, CEO and president of PBMMI said, “We are excited to join Brooks Life Science Systems. PBMMI was built with the same strategic goal in mind – providing comprehensive, regulatory-compliant biological sample storage and transport solutions for customers.”
PBMMI generated approximately $10 million of revenue in the last 12 months and management expects it will be accretive to Brooks’ non-GAAP earnings within the first quarter of ownership.
About Brooks Automation, Inc.
Brooks is a leading worldwide provider of automation and cryogenic solutions for multiple markets including semiconductor manufacturing and life sciences. Brooks’ technologies, engineering competencies and global service capabilities provide customers speed to market and ensure high uptime and rapid response, which equate to superior value in their mission-critical controlled environments. Since 1978, Brooks has been a leading partner to the global semiconductor manufacturing market. Since 2011, Brooks has applied its automation and cryogenics expertise to meet the sample storage needs of customers in the life sciences industry. Brooks’ life sciences offerings include a broad range of products and services for on-site infrastructure for sample management in temperatures of -20°C to -150°C, as well as comprehensive outsource service solutions across the complete life cycle of biological samples including collection, transportation, processing, storage, protection, retrieval and disposal. Brooks is headquartered in Chelmsford, MA, with direct operations in North America, Europe and Asia. For more information, visit www.brooks.com.
“Safe Harbor Statement” under Section 21E of the Securities Exchange Act of 1934
Some statements in this release are forward-looking statements made under Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Brooks' financial and business results to differ materially from our expectations. They are based on the facts known to management at the time they are made. These forward-looking statements include, but are not limited to statements about the anticipated benefits of the acquisition of PBMMI, and the expected future capabilities of the combined companies. Factors that could cause results to differ from our expectations include the following: potential difficulties with the integration of the PBMMI business into Brooks Life Science Systems and potential adverse reactions or changes to business relationships resulting from Brooks’ ownership of the PBMMI business. In addition, actual results are subject to other risks that relate more broadly to Brooks’ overall business, including those that we have described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K, current reports on Form 8-K and our quarterly reports on Form 10-Q. As a result we can provide no assurance that our future results will not be materially different from those projected. Brooks expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based. Brooks undertakes no obligation to update the information contained in this press release.
Senior Managing Director
Source:Brooks Automation, Inc.