Thermo Electron to Acquire Kendro Laboratory Products

Thermo Electron has entered into a definitive agreement to acquire the Kendro Laboratory Products division of SPX Corporation, for $833.5 million in cash, subject to a post-closing balance sheet adjustment.

Kendro designs, manufactures, markets and services a wide range of laboratory equipment for sample preparation, processing and storage used primarily in life sciences and drug discovery laboratories as well as in clinical laboratories.

With 2004 sales estimated at $375 million, Kendro has estimated EBITA margins of 17-18 percent. The company is headquartered in Asheville, North Carolina, and employs more than 1,600 associates worldwide. The company has extensive manufacturing and design facilities in the United States and Germany, and direct sales, service and support operations throughout Europe, North America and Asia.

Kendro's centrifuge offerings, known to customers by names such as Sorvall and Heraeus, 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. Kendro's thermal equipment offerings include ovens, incubators, freezers and refrigerators for research and industrial applications, marketed under the brands Revco and Jewett.

In addition to equipment solutions, Kendro provides its customers with comprehensive services through a global network of technicians, and offers integrated validation services and bio-repositories for sample storage and laboratory relocation management.