Bio-Techne Makes Third Acquisition This Year
Novus provides more than 250,000 products, according to Techne. Techne noted that the acquisition strengthens its antibody business and adds to content for potential use in new assays and kits and with the ProteinSimple instruments that the company is set to acquire (see IBO 6/30/14). In connection with the acquisition, Novus named David Eansor senior vice president. He was previously senior vice president of Corporate Development at Novus and, prior to that, president of Thermo Fisher Scientific’s Bioscience Division.
Minneapolis, MN 7/2/14—Techne (doing business as Bio-Techne), a developer and manufacturer of purified proteins for research labs, has acquired Novus Biologicals for $60 million in cash. Based in Colorado, Novus is a supplier of outsourced and in-house-developed antibodies and life science research reagents. “We appreciate the fact that customers’ reagent needs change, and Bio-Techne wants their first choice to be a Bio-Techne branded product when selecting a supplier of reagents for their experimentation. Therefore, an expansion of our antibody portfolio was a logical step in our long-term strategic business plan,” commented Bio-Techne President and CEO Charles R. Kummeth. “We are eager to adopt the digital commercial platforms that Novus Biologicals has perfected over the years to accelerate the growth of our overall business.” Novus Biological’s leadership team, including CEO Karen Padgett, will remain in place. The transaction closed on July 2.
