Largest of the many acquisitions in Thermo's history sees it take control of Kendro Laboratory Products and strengthen its grip on the global life sciences marketplace
Thermo Electron has completed its previously announced acquisition of Kendro Laboratory Products, a division of SPX.
On 19 January 2005, Thermo Electron announced that it had signed a definitive agreement to acquire Kendro for $833.5 million in cash, subject to a post-closing balance sheet adjustment.
Kendro is described as a global leader in sample preparation products and services for life science, material science and drug discovery applications, with estimated 2004 revenues of $375 million.
"The acquisition of Kendro - the largest in Thermo's history - brings us much closer to our goal of becoming the premier supplier of products and services for the laboratory," said Marijn Dekkers, president and chief executive officer of Thermo.
"This is a prime example of our commitment to strengthen Thermo's leading position in the life and laboratory sciences market through a combination of internal developments and strategic acquisitions.
"This acquisition provides Thermo Electron with a valuable extension to its team and new product families that will add industry leading centrifuge and thermal equipment".
Kendro' products include a number of well-respected names in laboratory equipment.
Its Sorvall and Heraeus products cover applications ranging from the separation of DNA to the separation of whole cells for use in biochemistry, molecular biology, virology, diagnostics and other clinical and research applications.
The company's thermal equipment offerings include ovens, incubators, freezers and refrigerators for research and industrial applications, marketed under the brands Revco and Jewett.
In addition, Kendro provides comprehensive services through a global network of technicians, and offers integrated validation services and bio-repositories for sample storage and laboratory relocation management.
Kendro serves the pharmaceutical, biotechnology, clinical, diagnostic and blood processing sectors worldwide, and supplies much of the equipment needed by academic, commercial and government laboratories.
