Thermo Fisher Scientific (NYSE:TMO) is boosting its supply chain capabilities with its $175 million purchase of chemicals supplier Doe & Ingalls.
Durham, North Carolina-based Doe & Ingalls provides specialty chemicals for companies in the life sciences and microelectronics industry. Doe & Ingalls’ 2011 revenue was approximately $110 million.
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The acquisition by Waltham, Massachusetts-based Thermo Fisher is a homecoming of sorts for Doe & Ingalls. One of the firm’s legacy businesses — also called Doe & Ingalls — was founded in Massachusetts in 1921 as a chemicals distributor. Doe & Ingalls North Carolina was founded in 1986 as an independent company serving Research Triangle Park. That business expanded to sites in Maryland, Florida and California — all locations with concentrations of life science and electronics companies.
Private equity firms Pouschine Cook Capital and Anchor Capital purchased Doe & Ingalls North Carolina in 2005. In 2010, Doe & Ingalls Management, parent of Doe & Ingalls North Carolina, acquired the Massachusets Doe & Ingalls. The combined company went by the name Doe & Ingalls.
Doe & Ingalls now becomes part of Thermo Fisher’s customer channels business within its Laboratory Products and Services Segment. This business line provides virtually everything needed in a laboratory for customers that include pharmaceutical companies, academic researchers, government sites and industrial facilities. Of Thermo Fisher’s three business segments, Laboratory Products and Services is the largest, generating $5.9 billion in 2011 revenue.
“Doe & Ingalls will strengthen our value proposition by adding products and services that address the production market within our extensive customer base, which we have historically served primarily from a research perspective,” Thermo Fisher CEO Marc Casper said in a statement.
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