UL Solutions to Acquire Eurofins' Electrical & Electronics Business for $670M — UL Solutions Inc.

Event summary

UL Solutions Inc. (NYSE: ULS) agreed to acquire Eurofins Scientific's electrical and electronics (E&E) business for approximately $670M (€575M).
The deal includes the MET Labs certification mark and is expected to close in Q4 2026, subject to regulatory approvals.
The acquisition will expand UL Solutions' global footprint, particularly in EMEA and Asia-Pacific, and enhance its testing, inspection, and certification (TIC) capabilities.
The E&E business generated approximately $200M in revenue in 2026, with the purchase price representing a multiple of approximately 14.5 times estimated 2026 EBITDA.

The big picture

The acquisition aligns with UL Solutions' strategy to focus on testing, inspection, and certification (TIC) and risk & compliance software capabilities. It comes as the company seeks to capitalize on megatrends such as digitization and global product compliance for increasingly connected products. The deal is funded through a combination of cash on hand, including proceeds from the sale of its Employee Health and Safety software business, and available capacity on its undrawn credit facility.

What we're watching

Integration Challenges: How UL Solutions will integrate Eurofins' E&E business into its existing operations and realize expected synergies.
Regulatory Approvals: Whether the transaction will receive timely regulatory approvals, given the global nature of the businesses involved.
Market Dynamics: The pace at which UL Solutions can leverage the acquisition to strengthen its position in the testing, inspection, and certification market.