With operations in more than 55 countries worldwide and a history that can be traced back to 1863 when itsd began trading as Campbell Brothers, ALS is a business with interests in the Minerals, Life Sciences and Energy sectors. The company has been hit by the downturn in the mining industry and the cyclical nature of the oil and gas sector, however.
The partnership of Advent International and Bain appeared poised to take advantage of this with a $2.7bn bid but ALS quickly rejected the takeover bid and, in a stock market announcement, the company advised that:
“The board believes that the timing of the approach is opportunistic and made at a time when ALS is strongly advancing its growth strategy in the life sciences business.”
Over the next few years ALS believes its Life Sciences division, which accounts for nearly 50% of the organisation’s revenue, is set to expand its market share and is likely to utilise marketing services to achieve this growth.
Industry analysts have suggested that this may be the first of several bids to takeover ALS, with both private equity firms and other organisations in the sector said to be potentially interested.