Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Thermo Fisher Said to Seek Over $500 Million in Sale of Lab Unit

Don't Miss Out —
Follow us on:

May 29 (Bloomberg) -- Thermo Fisher Scientific Inc. is seeking a buyer for Cole-Parmer Instrument Co., the lab-equipment manufacturer that it acquired in 2001, people with knowledge of the matter said.

With about $50 million in annual earnings before interest, taxes, depreciation and amortization, Cole-Parmer could fetch more than $500 million in a sale, said the people, who asked not to be named because the process is private. The sale price could go as high as $700 million, one of the people said.

Acquirers of scientific instrument makers in the past five years have paid a median of 10 times Ebitda, according to data compiled by Bloomberg on seven purchases. When Thermo Fisher acquired Dionex Corp. for more than $2 billion in 2011, it paid about 20 times the previous twelve months Ebitda, the data show.

Ron O’Brien, a spokesman for Thermo Fisher, didn’t reply to phone calls seeking comment on the sale.

Thermo Fisher, which reported Ebitda of $2.7 billion in the twelve months through March, has a market value of more than $46 billion. Cole-Parmer was acquired in 2001 by Fisher Scientific International Inc. for $205 million in cash. Fisher Scientific was later acquired by Thermo Electron Corp. for about $10.6 billion in stock to create Thermo Fisher.

To contact the reporter on this story: David Welch in New York at dwelch12@bloomberg.net

To contact the editors responsible for this story: Jeffrey McCracken at jmccracken3@bloomberg.net Mohammed Hadi, James Callan

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.