Mumbai, November 20th, 2017

Tata Capital’s Investment Banking division has successfully
advised on the acquisition of Spectro Analytical Labs (“Spectro”), a leading environment and
analytical product testing and inspection company in India, by Eurofins Scientific (“Eurofins”), one
of the global leaders in bioanalytical testing. In this transaction, Tata Capital was the exclusive
financial advisor to the shareholders of Spectro.

Headquartered in New Delhi, India, Spectro has over 22 years of experience in quality testing and
inspection-related services, and owns accreditations from the National Accreditation Board for
Testing and Calibration Laboratories (NABL) in six fields: Chemical, Mechanical, Biology, Nondestructive
Testing, Calibration and Electrical & Electronics. Starting from a small facility in New
Delhi, Spectro has steadily achieved strong growth to become India’s leading environment and
analytical laboratory, with operations and joint ventures all over the country, catering to more than
8,000 customers. The company operates 5 state-of-the-art laboratories in India, with a total
surface area of ca. 10,000 m2 and employs close to 450 staff.

Headquartered in Luxembourg, Eurofins is one of the world leaders in food, environment and
pharmaceutical testing and is also one of the global independent market leaders in certain testing
and laboratory services for agroscience, genomics, discovery pharmacology and for supporting
clinical studies. In addition, Eurofins is one of the key emerging players in specialty clinical
diagnostic testing in Europe and the USA. The Group employs over 30,000 staff in 400
laboratories across 41 countries, generating revenue of more than US$ 3 bn. The shares of
Eurofins are listed on the Euronext Paris Stock Exchange with a market cap of US$ 10.6 bn.
The acquisition of Spectro will enable Eurofins to have a strong environment and analytical testing
market entry in India and significantly increase Eurofins’ market position in this geographical

Commenting on the transaction, Mr. J Niranjan, CEO – Tata Capital Pte. Ltd. said: “The
transaction is a win-win situation for both Spectro and Eurofins. While Spectro becomes part of a
large MNC, Eurofins gains market entry into the Indian environmental and product testing sector.
The Indian testing and inspection sector has traditionally been dominated by MNCs. However,
with expansion in market potential, domestic companies are now quickly catching up. We are

witnessing an increasing interest from global players to establish and expand their presence in
Also commenting on the event Mr. Kuldeep Dhingra, Spectro’s Managing Director said, “We
are delighted to become part of the Eurofins Group. We see tremendous growth opportunities in
the Indian testing and inspection industry and are excited with the prospects of significant value
creation for our clients and employees through access to Eurofins’ global network of laboratories,
technical and financial competencies.”

Dr. Gilles Martin, Eurofins’ CEO added, “We are pleased to welcome Spectro, a prominent
Indian testing services provider, to Eurofins’ family of businesses. Spectro’s broad range of testing
and inspection services, combined with Advinus’ biopharmaceutical and agro sciences
competencies that were acquired earlier this year and Eurofins’ existing genomics, food and
clinical testing laboratories, will complement the Group’s analytical services portfolio and provide
Eurofins with a well-balanced initial market presence in India. This transaction is another
demonstration of Eurofins’ commitment to expand its global network of analytical services
laboratories across all geographical regions where it anticipates significant growth.”

About Tata Capital Limited
Tata Capital Limited, a holistic financial services provider caters to the diverse needs of retail, corporate and institutional customers,
directly or indirectly through its subsidiaries. Its range of offerings includes Consumer Finance, Advisory Services, Commercial
Finance, Infrastructure Finance, Investment Banking, Private Equity Advisory & Credit Cards. For more information about Tata Capital,
please visit

For further information, please contact:
Tata Capital
Stuart Pereira
+91 9029080385/022 6606 9102

Rediffusion / Edelman
Ankit Chothani
+91 9833370569

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