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GTCR, Golden Gate Capital to recapitalize Cole-Parmer Instrument

GTCR LLC and Golden Gate Capital signed a deal to recapitalize Cole-Parmer Instrument Co. LLC, together with the latter's CEO Bernd Brust and its management team.

GTCR will buy a majority stake in Cole-Parmer. Golden Gate and Cole-Parmer's management will continue to own a significant minority interest in the business.

The transaction, terms of which were not disclosed, is expected to be completed in the fourth quarter.

Cole-Parmer manufactures peristaltic, temperature monitoring and environmental precision equipment and related consumables used in research and production. It will keep its headquarters in Vernon Hills, Ill., and will continue to be led by its senior management team. The company will pursue organic growth initiatives, as well as further strategic mergers and acquisitions in the life sciences and laboratory products space, following the transaction.

Jefferies LLC was financial adviser to Cole-Parmer, while Latham & Watkins was legal adviser to GTCR. Baird was financial adviser to Golden Gate, with Kirkland & Ellis and Nob Hill Law Group PC serving as its legal advisers.