Alere Inc. has sold Spinreact S.A. to Toyobo Co., Ltd. for an undisclosed consideration.
Toyobo Co., Ltd. is one of Japan's top producers of fibers and textiles, including synthetic fibers (polyester, nylon and acrylics) and natural fibers, such as cotton and wool. The company's textiles are designed for clothing, home furnishings, and for industrial uses and include spandex yarn for apparel, polyurethane fiber for pantyhose, yarns for airbags and tire cords and synthetic fibers for apparel. Toyobo is also engaged in the spinning, weaving, knitting, dyeing, sewing, and the wholesaling and trading of textiles in Japan and internationally.
Spinreact S.A. develops and manufactures “in vitro” diagnostic reagents, analyzers, diagnostic agents, glucose test strips, osmometers and urine analyzers. The company was established in 1975 and is ISO 9001 certified.
Founded in 2001 and headquartered in Waltham, Massachusetts, Alere Inc. is a global diagnostic device and service provider. In 2009, the company won two awards in the 16th Annual National Health Information program, which recognizes the USA’s best consumer health information programs and materials. As of March 2014, Alere Inc. has a market capitalization of US$3 billion with an enterprise value of US$6.46 billion. Formerly known as Inverness Medical Innovation, Inc. the company changed its name to Alere Inc. in 2010.
Oaklins' team in Japan acted as financial and due diligence advisor to the buyer in this transaction.
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