Thermo Fisher Scientific Inc. continues its acquisition spree in a bid to add value to its bottom lines and shareholders. The chemicals major will be shelling out US$405 million – all cash – to acquire Alfa Aesar, a manufacturer of research chemicals that is based in the United Kingdom. The agreement will mean that Thermo Fisher now has an even wider portfolio of chemicals, reagents, and solvents for laboratory applications. The company wants to make a stronger impression in other applications such as drug development and discovery, said an official.
Currently, Alfa Aesar functions under the aegis of Johnson Matthey Plc and employs about 480 people as of June 2015. The company boasts operations in global chemical hubs, including India, China, South Korea and the United States. Alfa Aesar posted sales of US$125 million in 2014. The acquisition of Alfa Aesar by Thermo Fisher Scientific will be completed by the end of 2015 subject to the necessary regulatory approvals and closing conditions. Once the acquisition is through, Alfa Aesar will be a part of the Laboratory Products and Services business segment of Thermo Fisher.
In the past few years, Thermo Fisher has announced the acquisition of several smaller companies in a bid to broaden its product offerings and to make a greater presence felt in sunrise markets. The company consolidated its position in the specialty diagnostics and research chemicals domain with its recent takeover of Life Technologies. Another notable acquisition, on which Thermo Fisher spent US$300 million, was that of Advanced Scientifics to add value to its bioprocess equipment and single-use systems offerings. With a string of such deals, the company will be in a position to attain better tax synergies and profit margins. Other notable acquisitions by the company have been Doe & Ingalls, One Lambda, Dionex, and Finnzymes.