Expansion into Europe
In 2002, RAPRA underwent a Management Buyout (MBO), which made it possible for Smithers to acquire the organization. However, it took four years for the deal to be finalized. By then, RAPRA had declared financial insolvency. Mike, uncertain of the outcome, traveled to England for intense negotiations with lawyers and banks. After 17 days of hard work, Smithers successfully acquired RAPRA. This acquisition significantly expanded Smithers capabilities and global presence. RAPRA, renamed Smithers RAPRA Ltd., brought valuable assets, including the world’s largest polymer research and testing data library, along with services in consultancy, analytical services, product development, training, and market research. Today, RAPRA is a European hub for Smithers Materials Science and Engineering and Medical Device Testing Divisions.
New Leadership at Smithers Quality Assessments
In 2007, John Sedlak, the leader of Smithers Quality Assessments, prepared for his departure. He had worked with Jeanette Preston in various trade organizations and had been trying to recruit her for years. In October 2007, Jeanette joined Smithers as Director of Operations. She was promoted to Vice President in 2008 after John left, continuing the division’s growth.
Diversification into Packaging, Events, and Market Intelligence
Smithers also expanded through its acquisition of PIRA, an organization with a rich history dating back to 1930. In 2004, PIRA was acquired by CIBA Specialty Chemicals and became part of CIBA Expert Services. When BASF purchased CIBA in 2008, they had no use for PIRA’s services and approached Smithers to buy the company. The acquisition added valuable capabilities in packaging, printing, paper, and publishing industries. Smithers also inherited PIRA's acquisitions of Intertech in 2005 and Lansmont Testing Services Group in 2007. Today, PIRA’s legacy lives on through Smithers Materials Science and Engineering and Information Divisions.
Diversification Strategy Proves Successful
Until 2010, Smithers Scientific Services led in profits, but the Great Recession of 2008-2009 and the downturn in the automotive industry made it harder for this division to maintain its dominance. During this period, Smithers Viscient (formerly Smithers Springborn) emerged as the profit leader, showing the benefits of Smithers' diversification strategy. This shift demonstrated that Smithers broader portfolio could weather economic downturns and adapt to market changes.
Expansion into Asia
In 2011, Smithers opened its first facility in Suzhou, China, after decades of working with Chinese clients. Derek Read, who had experience working with Chinese clients, was tasked with leading the project. Initially, the plan was to open the facility in Qingdao, but Suzhou, located near Shanghai, was ultimately chosen for its proximity to key automotive companies. The launch faced initial setbacks, including months of delays due to equipment issues. However, during this time, Derek focused on understanding the local culture and building a strong team, including early hires like Henry He and Nancy Yao, who played key roles in the success of Smithers' operations in China.
Conclusion
Between 2006 and 2011, Smithers experienced a period of rapid expansion, acquiring companies, diversifying into new markets, and opening new facilities globally. By 2012, Smithers had matched this pace of growth in just one year, solidifying its position as a global leader in testing, consulting, and market intelligence.
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- The First Thirty Years: 1925-1955
- Building Upon a Trusted Brand - Evolution: 1956-1975
- Resilience and Expansion: 1976-1985
- Beginning of a New Era: 1986-1990
- Diversification and a New Era: 1991-2005
- A Flurry of Growth Activity: 2006-2011
- Expansion in the Life Sciences: 2012
- Organic Growth Period: 2013-2017
- Unity, Growth, and Resilience: 2018-2020
- Pushing the Boundaries of What is Possible: 2021-2024