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Thermo Fisher Sells Lab Workstations Business to OpenGate

NEW YORK (GenomeWeb News) – Thermo Fisher Scientific has sold its Lab Workstations business to private investment firm OpenGate Capital for an undisclosed amount.

The business, which sells products under the Hamilton, Advanced Laboratory Concepts, and Collegedale brands, generates annual revenues of around $175 million. Thermo Fisher said in late June that it intended to find a buyer for the "non-core" business.

"We view the Lab Workstations business as an extraordinary opportunity for our team to apply our operational know-how and maximize the efficiencies of the business," Andrew Nikou, OpenGate Capital's founder, managing partner, and CEO, said in a statement. "I am confident that great value will be created as this acquisition sits perfectly in our wheel house of expertise; from transitioning and operating a niche manufacturing business, to satisfying existing and new customer orders, and integrating approximately 1,800 employees into our family of companies."