NORTHBROOK, Ill., April 14 — UL Solutions Inc. (NYSE: ULS), a global leader in applied safety science, today announced it has entered into a definitive agreement to acquire the electrical and electronics (E&E) business (inclusive of the MET Labs certification mark) of Eurofins Scientific SE (“Eurofins”).1
- The transaction expands UL Solutions’ global footprint and is intended to enhance its testing, inspection and certification (TIC) business for electrical safety and connected products.
- Purchase price represents an enterprise value of approximately €575 million (approximately $670 million).
- Expected to be funded with cash on hand, including proceeds from the sale of the Company’s Employee Health and Safety software business, and available capacity on the Company’s undrawn credit facility.
- Expected to close in the fourth quarter of 2026, subject to customary closing conditions, including applicable regulatory approvals.
“Our technical talent, global accreditations and service portfolio differentiate us in our industry, and our strong balance sheet helps enable us to extend our capabilities and footprint globally to serve our customers’ evolving needs as strategic opportunities arise,” said President and CEO Jennifer Scanlon. “This transaction fits our ambition to be the acquirer of choice, and I am thrilled at the prospect of welcoming highly skilled colleagues who share our mission of working for a safer world to the UL Solutions team. We expect the megatrends propelling our growth will continue to accelerate, especially in digitization and global product compliance for increasingly connected products.”
Eurofins’ E&E business provides testing, compliance and certification services, including supporting global market access for electromagnetic compatibility and wireless testing, electrical safety, medical devices, and other technologies. The acquisition is expected to extend the Company’s capabilities in key geographies including EMEA and Asia-Pacific and help drive continued growth in the Consumer segment by bringing together a global infrastructure of complementary electrical testing and certification services to meet customer needs.
The E&E business is expected to generate approximately $200 million in revenue in 2026. The purchase price represents an enterprise value of approximately €575 million (approximately $670 million) on a debt-free, cash-free basis, as of the applicable lockbox date and subject to customary adjustments. It corresponds to a multiple of approximately 14.5 times estimated 2026 EBITDA2 inclusive of run-rate net cost synergies expected to be realized within three years following closing of the transaction. The transaction is anticipated to be accretive to Adjusted Diluted Earnings Per Share in the first full calendar year after closing, excluding intangible amortization and integration costs.
The Company expects to fund the transaction through a combination of its existing cash and revolving credit facility. Aligned with the Company’s strategy of focusing its portfolio on TIC and Risk & Compliance software capabilities, approximately 30% of the purchase price is anticipated to be funded through proceeds from the Company’s previously announced sale of its Employee Health and Safety software business, which closed on April 1, 2026.
The transaction, subject to regulatory approvals and other customary closing conditions, is expected to close in the fourth quarter of 2026. As such, the acquisition is not expected to impact the Company’s 2026 full-year outlook for organic revenue growth or Adjusted EBITDA margin.
