GTCR pays $480 million for Vernon Hills lab equipment maker

Private-equity firm GTCR LLC has agreed to pay $480 million for Cole-Parmer Instrument Co., a Vernon Hills-based maker and distributor of specialty laboratory equipment.

GTCR is acquiring Cole-Parmer from Thermo Fisher Scientific Inc. Laboratory equipment and related supplies made by Cole-Parmer are used by companies in the pharmaceutical, biotech, health care, chemicals and food industries.

“We believe Cole-Parmer’s strong reputation, management team and portfolio of leading brands provides a unique position within the diverse end-markets it serves,” said Dean Mihas, a GTCR managing director. “GTCR looks forward to investing in the business and building a leading company within the life sciences and lab supply industry.”

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