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Business

Thermo Will Divest Cole-Parmer Unit

by Marc S. Reisch
July 21, 2014 | A version of this story appeared in Volume 92, Issue 29
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Thermo Fisher Scientific has signed an agreement to sell its Cole-Parmer laboratory and industrial fluid handling products and services business to private equity firm GTCR for $480 million. Based in Vernon Hills, Ill., Cole-Parmer employs 400 people and had sales of $230 million last year. Thermo Fisher acquired the business in 2001 for $205 million but isn’t giving a reason for selling it now. Chicago-based GTCR says it expects to build Cole-Parmer into a leading company within the life sciences and lab supply industry.

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