Thermo Makes $120 Million Acquisition
The acquisition helps expand Thermo’s worldwide presence. As of May 31, 2008, Alesca stated that its Scientific & Medical division, which consists of Biolab, had 20,000 active trading accounts and approximately 410 employees. Alesco sold Biolab in order to reduce debt and avoid having to raise capital through a share offering.
Waltham, MA 4/27/09; Sydney, Australia 4/27/09—Thermo Fisher Scientific has agreed to acquire Biolab, a laboratory products distributor for the scientific, environment and healthcare markets in Australia and New Zealand. Thermo will acquire the business from Australian conglomerate Alesco for AUD $175 million ($120 million). Biolab has annual revenues of AUD $170 ($120 million). “As the premier commercial channel in Australia, New Zealand and the South Pacific, Biolab offers a broad portfolio of products and services to support Thermo Fisher’s continuing growth in the region,” commented Marijn E. Dekkers, Thermo Fisher Scientific president and CEO. Biolab will be integrated into Thermo Fisher’s Laboratory Products and Services Segment. The transaction is expected to close by April 30.
