Thermo Fisher Scientific Inc. (NYSE: TMO) has acquired Advanced Scientifics Inc. for $300 million in cash.
Advanced Scientifics manufactures and delivers single-use systems and equipment for preparing, processing, storing and transporting biopharmaceuticals. The target, which had about $80 million in revenue for 2014, will be added to Thermo Fisher's Life Sciences Solutions segment.
Waltham, Massachusetts-based Thermo Fisher provides services to life science businesses. Thermo Fisher says the acquisition will let it expand its offerings in the bioprocessing workflow space.
In July, the company sold lab equipment business Cole-Parmer Instrument Co. to Chicago private equity firm GTCR for $480 million.
Real Leclerc and Robert Minear of Jeffries acted as Advanced's financial advisers for the deal.