Thermo Fisher completes sale of lab equipment maker Cole-Parmer

Testing equipment manufacturer Thermo Fisher Scientific Inc. has completed the sale of its Cole-Parmer customer channel business to private equity firm GTCR LLC for approximately US$480 million in cash.

The sale was announced on July 17, 2014.
 

Cole-Parmer, headquartered in Vernon Hills, Ill., is a global 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.

The business had approximately US$230 million in revenues for full year 2013, and is part of Thermo Fisher’s Laboratory Products and Services Segment.