Thermo Fisher To Sell Cole-Parmer Channel Business - Quick Facts

(RTTNews) - Thermo Fisher Scientific Inc. (TMO) announced it has signed a definitive agreement to sell its Cole-Parmer channel business to private equity firm GTCR, LLC for $480 million in cash. The company said it expects an immaterial impact to 2014 adjusted earnings per share and will update annual guidance in its second quarter earnings release on July 23.

Cole-Parmer, based in Vernon Hills, Illinois, is a provider of fluid handling, test and measurement, and electrochemistry products and services with 400 employees globally. The business had approximately $230 million in revenues for full year 2013.