Private equity firm GTCR is to acquire the Cole-Parmer Instrument Company from Thermo Fisher Scientific for USD480 million.
Cole-Parmer, headquartered in Vernon Hills, Illinois, is a manufacturer and distributor of specialty laboratory equipment, instruments and supplies to a diverse range of customers in pharmaceutical, biotech, healthcare, chemicals, food and other research-based or regulated markets.
“We are excited to acquire Cole-Parmer from Thermo Fisher,” says Dean Mihas, managing director at GTCR. “We believe Cole-Parmer’s strong reputation, management team and portfolio of leading brands provides a unique position within the diverse end-markets it serves. GTCR looks forward to investing in the business and building a leading company within the life sciences and lab supply industry.”
The transaction is subject to regulatory approval and other customary closing conditions.
GTCR’s investment in Cole-Parmer will be funded from GTCR Fund XI, a private equity fund raised in 2014 with USD3.85 billion of limited partner equity capital commitments.
Credit Suisse served as financial advisor to GTCR and will provide financing for the transaction. Kirkland & Ellis served as legal counsel to GTCR.
