Thermo Fisher Scientific Completes Sale of Genevac
Thermo Fisher Scientific Inc. announced that it has completed the sale of its Genevac business, a manufacturer of vacuum concentrators, to private equity firm Riverlake Equity Partners, LP. Riverlake intends to eventually merge Genevac into its laboratory equipment products and services company, SP Industries, Inc.
On November 9, 2006, Thermo Electron Corporation merged with Fisher Scientific International Inc. to form Thermo Fisher Scientific. The European Commission (EC) and the Federal Trade Commission (FTC) required the divestiture of Genevac, a $17 million business of Fisher Scientific, as the sole condition to their approval of the merger. Under the terms of the FTC Decision and Order, and the Commitments to the European Commission, Thermo Fisher Scientific was required to divest the business to a buyer approved by the FTC and EC by April 9, 2007.
Source: Thermo Fisher Scientific