Thermo Fisher to acquire Lomb Scientific

Thermo Fisher continues its expansion into the Australia-New Zealand market with the signing of a definitive agreement to acquire Lomb Scientific, which distributes laboratory chemicals, consumables and instruments in the region.

The agreement to acquire Lomb was signed off yesterday, Australian time, for an undisclosed amount.

Lomb's product ranges will be integrated into Thermo Fisher’s Laboratory Products and Services and Analytical Technologies segments.

Lomb Scientific started out as a niche manufacturer and supplier of microscope slides and coverslips, and was acquired by Walter Parsons in 1984.

It operates out of Australia, and distributes a wide range of laboratory equipment through Australia and New Zealand.

It has around 100 employees and had a full year revenue of $34 million in 2009.

Thermo Fisher has recently been expanding its operations in Australia, with the intention of increasing its presence in the Asia-Pacific markets.

“The addition of Lomb Scientific would reinforce our commitment to expand in growing Asia Pacific markets,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific, in a statement.

“Through this acquisition, we would significantly strengthen our laboratory product offerings in the region, particularly chemicals used in life sciences, research and industrial applications. Lomb Scientific would also expand our customer base, increasing our depth of capabilities in health sciences, such as pathology, and building on our presence in strong industrial markets, such as mining.”