Power Financial backed SGS acquires BioVision Seed Research

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By Ted Liu

SGS SA (VTX: SGSN), through SGS Canada Inc., has acquired Sherwood Park, Alberta based BioVision Seed Research Ltd. Financial terms were not disclosed.

With additional facilities in Winnipeg and Grand Prairie, BioVision Seed Research is a leading seed, grain and soil testing laboratory serving the agricultural markets in Western Canada and beyond. The company offers testing across a broad variety of crops, supported by its fully-accredited experts and laboratories (CFIA, CSI, ISO 9001:2008).

Founded in 1996 and privately owned, BioVision Seed Research Ltd. employs 20 staff and generated revenues in excess of CDN $3.4 million in the last financial year.

“This acquisition reinforces our already strong presence in the Canadian agricultural market and allows us to expand our portfolio of services across our extensive country-wide branch network,” said Frankie Ng, CEO of SGS.

BioVision Seed Research is SGS’ second Canadian acquisition in 2017. In March 2017, SGS acquired ILC Micro-Chem Inc., a Mississauga, Ontario based independent laboratory providing microbiology and food chemistry testing services. SGS also acquired Sidney, BC based AXYS Analytical Services in October 2016.

Geneva, Switzerland based SGS SA is the world’s leading inspection, verification, testing and certification company. SGS is recognized as the global benchmark for quality and integrity. With more than 90,000 employees, SGS operates a network of over 2,000 offices and laboratories around the world.

Power Financial through Parjointco, a 50/50 holding company between Power and the Frère family group of Belgium, is a significant indirect shareholder in SGS. Paul Desmarais, Jr served on SGS board of directors.

photo credit: SGS