Thermo Electron to acquire leading lab equipment supplier
Thermo Electron Corporation has signed an agreement to acquire French laboratory equipment provider Jouan for €110.9m (US$124m) in cash plus the assumption of approximately €7.1m ($8m) of consolidated net debt. Jouan's sales in 2003 amount to an estimated €82m ($92m).
Thermo Electron Corporation has signed an agreement to acquire French laboratory equipment provider Jouan for €110.9m (US$124m) in cash plus the assumption of approximately €7.1m ($8m) of consolidated net debt. Jouan's sales in 2003 amount to an estimated €82m ($92m).
Based in Saint-Herblain in France, Jouan is a global supplier of products used by life science researchers in academic, pharmaceutical, biotech, and clinical markets to prepare and preserve laboratory samples. Its range, which is sold worldwide, includes centrifuges, biological safety cabinets, ultra-low temperature freezers, and incubators. The company has manufacturing operations in France, Denmark, Italy, the Czech Republic and the US.
According to Marijn E. Dekkers, president and chief executive officer of Thermo Electron, the acqui-sition broadens Thermo Electron's sample preparation and storage product lines, sales channels, and geographic market coverage. 'Jouan's strong position in centrifuges and biological safety cabinets complements our own market strength in incubators and freezers.
The acquisition is expected to be completed by the end of this year.