News Column

Thermo Fisher Scientific Signs Agreement to Sell Cole-Parmer

July 28, 2014



By a News Reporter-Staff News Editor at Biotech Business Week -- Thermo Fisher Scientific Inc. (NYSE:TMO), the world leader in serving science, announced 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 (see also Biotechnology Companies).

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.

Keywords for this news article include: Biotechnology Companies, Technology, Thermo Fisher Scientific Inc.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC


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Source: Biotech Business Week


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