Frankfurt, Germany 9/12/16; Duesseldorf, Germany 9/12/16–Gerresheimer and Chase Scientific Glass have announced plans to sell their Kimble Chase to Duran for $131 million. Kimble Chase provides lab and scientific glassware, including reusable glassware, and disposable and specialty products. In 2015, Kimble Chase posted revenues of €100.7 million ($111.9 million = €0.90 = $1). Sales declined 2.6% to €47.8 million ($53.1 million) in the first six months of this year and EBITDA was slightly down at €6.5 million ($7.2 million). Duran CEO Armin Reiche commented, “The acquisition allows us to form a global company in the Laboratory Consumable industry, offering laboratory glass and plastic products for research and packaging solutions in the areas of life sciences and chemistry. (For Gerresheimer Life Science’s second quarter results, see Bottom Line.)

Kimble Chase has 760 employees and 5 manufacturing facilities. Private equity firm One Equity Partners acquired Duran in 2014 (see IBO 12/15/14) and continues to grow the lab consumables company, purchasing Wheaton last year (see IBO 9/15/16), which added packaging products. Gerresheimer stated that the divestment allows it focus on its core pharmaceutical packaging and medical device businesses.