Thermo Fisher looking to shed Cole-Parmer Instrument
Thermo Fisher Scientific Inc. is looking to divest its lab equipment manufacturing asset, Cole-Parmer Instrument Co., according to a newswire report.
Bloomberg, citing people with knowledge of the matter, said that the unit could have a price tag of as much as USD 500m - USD 700m. According to the report, typical multiples in the sector have hovered around 10x EBITDA in recent years, leading the people with knowledge to ballpark the value of Cole-Parmer Instrument - with EBITDA of around USD 50m - at the aforementioned price.
A spokesperson for Thermo Fisher did not reply to calls seeking comment, the report said.
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