Duran Group, a portfolio company of One Equity Partners, has closed its previously announced buy of Kimble Chase. No financial terms were disclosed although past reports pegged the amount to be $131 million. The sellers are Gerresheimer and Chase Scientific Glass Inc. Rockwood, Tennessee-based Kimble Chase is a maker of laboratory and scientific glassware.
NEW YORK, OCTOBER 31, 2016 – One Equity Partners, a leading middle market private equity firm, today announced that its portfolio company Duran Group, a global glass manufacturer for laboratory and industrial applications, has acquired Kimble Chase Life Science & Research Products, LLC. The acquisition of U.S.-based Kimble Chase, which has a strong position in disposable products, is a further step in building Duran Group into a worldwide leader in the laboratory and scientific glassware industry.
Headquartered in Rockwood, Tenn., Kimble Chase is a manufacturer and distributor of laboratory and scientific glassware for the pharmaceutical, environmental, petrochemical, life sciences, education and chromatography markets. Operating facilities across three continents, the company offers a broad range of disposable, reusable and specialty products. Kimble Chase was previously owned by Gerresheimer and Chase Scientific Glass, Inc.
“This highly strategic acquisition strengthens Duran Group’s U.S. market presence with the addition of complementary products that balances the company’s Europe and U.S. businesses. It is representative of One Equity Partners’ strategy of creating transformative combinations that build market-leading businesses,” said Dr Jörg Zirener, Managing Director at One Equity Partners, which acquired Duran Group in February 2015. “The addition of Kimble Chase further diversifies the business. We are creating a business that can offer customers around the world an integrated and complementary product portfolio of precision laboratory glassware products.”
The addition of Kimble’s product portfolio represents another significant step forward for Duran Group and One Equity Partners in creating a diversified global player in the scientific glassware industry. In September 2015, Duran Group was combined with Wheaton, a Millville, N.J.-based supplier of laboratory consumable products and customized solutions used for life science R&D, in vitro diagnostics, and medical packaging. The acquisition was the first step in transforming Duran Group from primarily a European-focused company into a worldwide laboratory glassware business.
“This acquisition allows us to continue to build a global company that now combines three highly respected names in the laboratory consumables industry, and offers laboratory glass and plastic products for research and packaging solutions in the areas of life sciences and chemistry,” said Armin Reiche, CEO of Duran Group. “This will prove highly beneficial for our customers as we will offer them both the full range of laboratory products and support their needs for global expansion and local coverage.”
About One Equity Partners
One Equity Partners is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. One Equity is a trusted partner with a differentiated investment process, a broad and senior team, and an extensive track record generating long-term value for its partners. Since 2001, the firm has invested in more than 140 companies worldwide. One Equity Partners, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York and Chicago, and an advisory office in Frankfurt. For more information, please visit www.oneequity.com.
About Duran Group
Duran Group is a leading global manufacturer of borosilicate glass and container solutions for the laboratory and industrial glass markets and possesses the entire value-added chain from the melting process to precision forming and working processes. The company focuses on three business segments: laboratory glass, consumer glass and industrial glass. It operates manufacturing sites in Germany, USA, UK, Croatia and India. For further information, please visit www.duran-group.com.
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. For more information, please visit www.kimble-chase.com.