WALTHAM, Mass.--(BUSINESS WIRE)--
Thermo Fisher Scientific Inc. (NYSE:TMO), the world leader in serving
science, announced today that it has signed a definitive agreement to
sell its Cole-Parmer channel business to private equity firm GTCR, LLC
for $480 million in cash.
Cole-Parmer, based in Vernon Hills, Illinois, is a provider of fluid
handling, test and measurement, and electrochemistry products and
services with 400 employees globally. The business had approximately
$230 million in revenues for full year 2013 and is part of Thermo
Fisher’s Laboratory Products and Services Segment.
Thermo Fisher anticipates closing the transaction in the third quarter,
subject to customary closing conditions and applicable regulatory
approvals. The company expects an immaterial impact to 2014 adjusted
earnings per share and will update annual guidance in its second quarter
earnings release on July 23.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE:TMO) is the world leader in serving
science, with revenues of $17 billion and 50,000 employees in 50
countries. Our mission is to enable our customers to make the world
healthier, cleaner and safer. We help our customers accelerate life
sciences research, solve complex analytical challenges, improve patient
diagnostics and increase laboratory productivity. Through our four
premier brands – Thermo Scientific, Life Technologies, Fisher Scientific
and Unity Lab Services – we offer an unmatched combination of innovative
technologies, purchasing convenience and comprehensive support. For more
information, please visit www.thermofisher.com.
Karen Kirkwood, 781-622-1306
Ken Apicerno, 781-622-1294
Source: Thermo Fisher Scientific Inc.