Eurofins Scientific (XPAR:ERF, Financial) is a Luxembourg-based laboratory services company with 940 laboratories in 59 countries. We believe Eurofin’s scaled, focused lab testing networks possess superior market positions and high barriers to entry. In our view, the company has best-in-class exposure to secularly growing end markets in pharmaceutical, food and environmental testing. We find the company has an attractive formula of network expansion through both organic and inorganic growth. Finally, we appreciate that Giles Martin, the company’s founder and executive chairman, has a large ownership interest in the company and a strong long-term track record.
From David Herro (Trades, Portfolio)'s Oakmark International Fund first-quarter 2023 commentary.
