Leadership case studies are for Management Leaders only and should not be used for investment purposes. Click to proceed


March 22, 2017

Deal Represents GTCR’s Leaders Strategy at Work – Successful Corporate Carve-out Followed by Organic Growth and Strategic M&A

CHICAGO, IL – March 22, 2017

GTCR, a leading private equity firm, announced today that it has completed the sale of Cole-Parmer Instrument Company (“Cole-Parmer” or the “Company”) to Golden Gate Capital. Founded in 1955, Cole-Parmer is a global manufacturer and distributor of laboratory research products specializing in fluid handling, test and measurement, and general laboratory products.

In executing the Leaders Strategy TM, GTCR partnered with CEO Bernd Brust to evaluate opportunities in the life sciences and laboratory products sectors. Mr. Brust had previously served as President and CEO of Qualicaps, a leading provider of capsule manufacturing and processing equipment for pharmaceutical companies, as well as Chief Commercial Operations Officer at Life Technologies Corporation. The partnership ultimately led to the August 2014 acquisition of Cole-Parmer from Thermo Fisher Scientific (NYSE:TMO).

Following the successful carve-out from Thermo Fisher, Cole-Parmer executed on GTCR’s investment thesis of driving organic growth and completing strategic add-on acquisitions to improve the Company’s product mix and scale. Cole-Parmer’s organic growth strategy included reinvesting in the Company’s commercial infrastructure and driving operational efficiencies. In addition, the Company completed six add-on acquisitions to add proprietary branded products to the Company’s portfolio, grow its specialty distribution capabilities and expand its geographic footprint in the U.S., Europe and Asia.

“We want to thank Bernd and the management team for their partnership. Under their leadership, Cole-Parmer was able to execute our collective investment thesis and invest in long-term growth,” said GTCR Managing Director Dean Mihas. “The operational improvements and growth initiatives that Bernd and the team accomplished represent excellent examples of how GTCR executes the Leaders Strategy TM.”

Sean Cunningham, Managing Director at GTCR, added: “Bernd and the entire Cole-Parmer team have done an exceptional job transforming the business over the last several years. Since the initial carve-out acquisition, the Company has become a global platform in the lab research products market and should continue to benefit from its scale, product offering and focus on customer experience.”

“We’d like to thank GTCR for their commitment and support transforming Cole-Parmer over the last several years,” said Bernd Brust, CEO of Cole-Parmer. “GTCR has been a great partner supporting investments in organic growth initiatives and strategic M&A.”

Goldman, Sachs & Co. and Jefferies LLC advised Cole-Parmer on its sale to Golden Gate Capital. J.P. Morgan Securities LLC advised GTCR on the transaction. Kirkland & Ellis LLP served as legal counsel and PriceWaterhouseCoopers served as accounting advisor to Cole-Parmer and GTCR.

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based firm pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $12 billion in over 200 companies. For more information, please visit www.gtcr.com.

About Cole-Parmer

Cole-Parmer has been a leading global source of laboratory and industrial fluid handling products, instrumentation, equipment, and supplies since 1955. Cole-Parmer’s product lines, including popular brand names such as Masterflex®, Ismatec®, Oakton®, Digi-Sense™, and more, are sold through company-owned customer channel outlets and a strong network of international dealers. For more information, contact Cole-Parmer, 625 East Bunker Court, Vernon Hills, IL 60061. In the US, call 800-323-4340. International customers, call 1-847-549-7600. Visit us at www.coleparmer.com.