SGS acquires CRO in the US

Published: 13-Jan-2020
Finance Analysis

Texas-based Thomas J. Stephens & Associates specialises in the cosmetic and personal care industry

SGS has acquired Thomas J. Stephens & Associates, Inc. (Stephens). Headquartered in Richardson, Texas (US) and with a facility in Phoenix, Arizona, Stephens is a nationally recognised clinical research organisation (CRO) serving the cosmetic and personal care industry. The company provides safety and efficacy testing and contract research services.

Founded in 1989, Stephens is a privately owned company and employs nearly 100 staff. The CRO generated approximately US$15 million in revenue in 2019.

“This acquisition expands SGS’s Consumer & Retail service portfolio in the clinical testing sector for cosmetic and personal care products in the US,” said Frankie Ng, CEO of SGS.

“The combination of Stephens and SGS Harrison Research Laboratories in New Jersey gives SGS a leading position in this field in the US,” he concluded.

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