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Thermo Electron to Buy Lab-Equipment Company Kendro for $835.5M

NEW YORK, Jan. 19 (GenomeWeb News) - Thermo Electron plans to acquire lab-equipment provider Kendro Laboratory Products for $833.5 million in cash, the company said today.

 

Thermo said it will use a recently obtained $600 million credit facility to help pay for the deal. It was not immediately clear how the company will fund the rest of the acquisition.

A business unit of SPX Corporation, Kendro designs, manufactures, markets, and services a range of laboratory equipment for sample preparation, processing, and storage used in drug discovery and clinical laboratories.

The company, headquartered in Asheville, NCand employs more than 1,600 people, made $375 million in sales in 2004. Kendro has manufacturing and design facilities in the United Statesand Germany, and direct sales, service and support operations throughout Europe, North America, and Asia.

Kendro makes a line of centrifuges that cover applications such as DNA separation, and sells thermal equipment such as ovens, incubators, freezers, and refrigerators for research and industrial applications.

 

"This acquisition provides an attractive financial profile for Thermo Electron in terms of earnings and cash flow generation," Marijn Dekkers, president and CEO of Thermo Electron, said in a statement. "This transaction also underscores our intent to use acquisitions to gain access to technologies that are of interest to our customers."

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