Duran Group to acquire Kimble Chase Life Science & Research Products, LLC
Duran Group ("Duran"), a portfolio company of funds advised by OEP Capital Advisors, L.P., today announced that it has entered into a definitive agreement to acquire Kimble Chase Life Science & Research Products, LLC ("Kimble Chase") from Gerresheimer and Chase Scientific Glass, Inc. The transaction is subject to customary closing conditions and allows OEP to build on a successful track record in the life science and research sector
Kimble Chase is a leading global manufacturer and distributor of laboratory and scientific glassware for the pharmaceutical, environmental, petrochemical, life sciences, education and chromatography segments. With approximately 760 employees in operating facilities spread across three continents, the company offers a comprehensive and broad range of reusable, disposable and specialty products. Through this acquisition, Duran Group will increase its global presence and allow it to provide greater services and customer offerings in the United States.
Dr Jörg Zirener, Managing Director at OEP, said: "OEP is excited about the acquisition of Kimble Chase which will further strengthen Duran's position in the attractive life science and research markets. We look forward to working together with the management of the combined group to further accelerate growth. The addition of Kimble Chase to Duran's portfolio will better position the group globally, making it a one-stop-shop for customers in research intensive markets when it comes to glassware."
Armin Reiche, CEO of Duran Group, added: "The acquisition allows us to form a global company in the Laboratory Consumable industry, offering laboratory glass and plastic products for research and packaging solutions in the areas of life sciences and chemistry. This will prove highly beneficial for our customers as we will offer them both the full range of laboratory products and follow their needs for global expansion and local coverage."
About One Equity Partners
One Equity Partners (OEP) is a leading middle-market private equity firm that focuses on investing in family, carve-out and platform companies with a mission of expanding those companies with growth capital and through add-on mergers. OEP invests in a variety of industries, including healthcare, technology, media, telecom, business services, consumer products, chemicals and manufacturing. Founded in 2001, OEP spun out of JPMorgan in 2015. Since inception, OEP has invested approximately $11 billion. OEP's investment professionals are located across North America, South America and Europe, with offices in New York and Chicago, and advisory offices in Frankfurt and Sao Paulo.
About Kimble Chase
Kimble Chase Life Science and Research Products, LLC is a global company with approximately 760 employees at five operating facilities on three continents. Kimble is a leading producer of the most comprehensive range of laboratory and scientific glassware, specializing in a broad range of reusable and, disposable and specialty glassware for the pharmaceutical, environmental, petrochemical, life sciences, education and chromatography markets. These products include ASTM and ISO glass beakers, flasks, cylinders, vials & closures, media bottles, culture tubes, funnels and pipets to support their customers' needs in sample collection, storage, preparation, analysis and disposition.
About Duran Group
Duran Group is a leading global manufacturer of borosilicate glass and container solutions and possesses the entire value-added chain from the melting process to precision forming and working processes. The company produces glassware and container solutions for a wide range of industry segments. It operates manufacturing sites in Germany, USA, UK, Croatia and India.
Source: Duran Group