Thermo Electron Acquires US Counseling Services, Inc.
Thermo Electron Corporation announced the purchase of US Counseling services, Inc. (USCS) for $77.9 million in cash, subject to a post-closing adjustment. Thermo's net purchase price is $74.7 million, after adjusting for $3.2 million in cash acquired with the business. As one of the largest scientific instruments companies in the world, Thermo has historically provided maintenance and repair services to customers. In November 2003, Thermo added to this capability by acquiring LMSi, bringing instrument and computer systems validation, metrology, and certification, as well as a range of associated consulting services. Now, with the addition of USCS, Thermo has augmented its service business to provide critical asset management skills, furthering Thermo's strategy to become the most comprehensive service provider to scientific laboratories worldwide.
Based in Brookfield, Wisconsin, USCS is a leader in equipment asset management services in the pharmaceutical and healthcare industries. The company has successfully established a growing market position, providing a wide range of asset management services, including instrument and equipment maintenance management, physical inventory tracking, and cost-of-ownership analysis to help customers improve the performance of their laboratory or facility. USCS was founded in 1969 and employs 175 people. The company had revenues of approximately $57 million in 2003.
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