Private equity firm Golden Gate Capital has completed the acquisition of Cole-Parmer from private equity firm GTCR.
Founded in 1955, Cole-Parmer is a designer, manufacturer, and distributor of specialty lab equipment with particular expertise in fluid-handling, test and measurement, and electrochemistry.
The company sells its products and services to a diverse range of customers in the healthcare, biotech, pharmaceutical, environmental, and food industries, among others. The company offers a diverse range of product lines, including brands such as Masterflex, Ismatec, Oakton, and the Cole-Parmer private label, to an international network of laboratory managers and independent dealers.
Rajeev Amara, managing director at Golden Gate Capital, says: “We look forward to partnering with Bernd and the Cole-Parmer management team as the company continues its expansion into high-growth life science and lab testing markets such as bio-production and contaminant testing. Cole-Parmer is now our fourteenth investment in the industrials sector and the latest example of our focus on backing high growth, best-in-class platforms and management teams.”
Cole-Parmer will continue to be led by its current senior management team, including chief executive officer Bernd Brust, and will remain headquartered in Vernon Hills, IL.
“We are thrilled to have Golden Gate Capital as our new investment partner and are impressed with their growing commitment to the life sciences,” says Brust. “Our alignment on strategic vision, industry consolidation via M&A, and above-market growth via organic investment initiatives ensure we maintain and accelerate the momentum we have generated since my team joined the company.”
Morgan Stanley is serving as financial adviser to Golden Gate Capital.
