CRL
Charles River Laboratories International, Inc.NYSE
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  • Wed, Sep. 28, 6:13 PM
    • Charles River Laboratories (NYSE:CRL) acquires Agilux Laboratories for $64M in cash subject to certain closing adjustments. The Worcester, MA-based contract research organization (CRO) provides a range of integrated small and large molecule bioanalytical services, drug metabolism and pharmacokinetic services and pharmacology services.
    • The transaction should be neutral to CRL's Q4 non-GAAP earnings and slightly accretive in 2017. Agilux's top line should be ~$27M this year.
    | Wed, Sep. 28, 6:13 PM
  • Mon, Jun. 27, 4:46 PM
    • Charles River Laboratories (NYSE:CRL) acquires contract research organization (CRO) Blue Stream Laboratories for an undisclosed sum. The Woburn, MA-based outfit specializes in the development of complex biologics and biosimilars. It is also known for its prowess in structural and functional protein characterization programs and the development and validation of assays for current Good Manufacturing Practice (cGMP) lot release and stability programs.
    | Mon, Jun. 27, 4:46 PM
  • Thu, Jan. 7, 8:19 AM
    • Charles River Laboratories (NYSE:CRL) acquires WIL Research for $585M in cash. The Ashland, OH-based contract research organization provides safety assessment and development and manufacturing services to biopharmaceutical, industrial chemical, agricultural and animal health firms worldwide. The transaction expands CRL's geographic footprint, especially in continental Europe.
    • WIL Research should book ~$215M in revenues in 2015 (+9%). CRL expects it to add $150M - 170M to its top line this year, depending on the timing of the close, and $240M - 250M in 2017. The bump in non-GAAP EPS is expected to be at least $0.20 this year and $0.45 - 0.50 next year.
    • CRL will finance the deal with cash on hand and an expansion of its credit facility.
    • Management will host a webcast at 8:30 am ET to discuss the deal.
    | Thu, Jan. 7, 8:19 AM | 1 Comment
  • Nov. 18, 2015, 5:15 PM
    • Charles River Laboratories (NYSE:CRL) acquires Freiburg, Germany-based Oncotest GmbH, a contract research organization (CRO), for €34M in cash plus an addition €2M based on future performance.
    • Oncotest offers an integrated portfolio of target discovery and validation services for preclinical oncology researchers, specializing in in vivo pharmacology services.
    • Its revenues will represent ~1% of CRL's and its earnings will be neutral to slightly accretive to non-GAAP EPS. The transaction will not have a meaningful impact on CRL's revenues or non-GAAP EPS in Q4.
    | Nov. 18, 2015, 5:15 PM
  • Jul. 28, 2015, 9:44 AM
    • Charles River Laboratories (CRL +0.3%) acquires London-based Celsis from investment bank Brown Gibbons Lang & Company for $212M in cash.
    • Celsis is a leading supplier of rapid microbial detection systems used in quality control testing by the pharmaceutical and consumer products industries. Its systems are principally used for product release testing.
    | Jul. 28, 2015, 9:44 AM
  • Jul. 9, 2015, 7:45 AM
    • Charles River Laboratories International (NYSE:CRL) acquires product-release testing firm Celsis International Ltd. for $212M in cash. Celsis is a leading provider of rapid bacterial detection systems used in quality control testing in the biopharmaceutical and consumer products industries. The acquisition complements CRL's Endotoxin and Microbial Detection businesses.
    • Revenue growth for Celsis is expected to be in the low double-digits for the foreseeable future. The acquisition price is ~14x non-GAAP EBITDA and will be financed with cash on hand and debt.
    • The transaction, expected to close in Q3, will add ~1% to CRL's 2015 revenue and ~2.5% to its 2016 top line. It will boost non-GAAP EPS $0.05 this year and $0.20 in 2016.
    | Jul. 9, 2015, 7:45 AM
  • Oct. 13, 2012, 10:00 AM

    Five years after record fundraising for P-E firms, the shops still sit on much of that cash and are coming up against the time when they must "use-it-or-lose-it." As most would rather use it, Barron's screens for attractive targets - market cap of $1B-$10B, an Enterprise Value/EBITDA ratio below 10, and annual cash flow of at least 5% of stock market value. The winners: Guess (GES), Terex (TEX), Charles River Labs (CRL), and Big Lots (BIG).

    | Oct. 13, 2012, 10:00 AM | 1 Comment
  • Aug. 29, 2012, 2:25 PM

    Charles River Laboratories (CRL +0.4%) acquires Accugenix , a global provider of cGMP-compliant contract microbial identification testing, for around $17M in cash. The acquisition is intended to strengthen CRL's Endotoxin and Microbial Detection1 portfolio by providing clients with state-of-the-art microbial detection services for manufacturing in the biopharmaceutical, medical device, nutraceutical and consumer care industries.

    | Aug. 29, 2012, 2:25 PM
  • Jan. 11, 2012, 4:30 PM

    With speculation high that Charles River Labs (CRL) is in play, William Blair estimates a deal could be worth at least $40 and maybe more than $60, with the most likely price in the mid-$40s (today's close was $31.34). Shares fell 3.5% today, but remain up 13% on the week.

    | Jan. 11, 2012, 4:30 PM
  • Jan. 10, 2012, 8:23 AM

    Charles River Labs (CRL) is pursuing a sale of the company that could fetch as much as $40/share, and it's "just a matter of time" before a deal is completed, the Deal Reporter says. R.W. Baird expects shares to trade higher on the speculation unless management denies the story. CRL +2.1% premarket.

    | Jan. 10, 2012, 8:23 AM