Lab supplier VWR International, Inc., West Chester, PA, a portfolio company of Clayton, Dubilier & Rice, Inc., will be acquired by Madison Dearborn Partners.
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VWR had revenue of more than $3.2 billion in 2006. It is the second largest distributor in the global research lab supply industry, with customers in pharmaceuticals, biotechnology, education and industry.
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Madison Dearborn Partners is a private equity investor in the U.S.
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VWR announced on March 12, 2007 that it was exploring strategic options for the …
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Smith International, Inc., supplier to the oil and gas industry, reported first-quarter sales were $2.11 billion, compared with sales of $1.68 billion in the same period a year ago. Profit was $160.2 million, up from $107 million a year ago.
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Offshore business volumes accounted for 90% of the Oilfield segment revenue increase over the December quarter, impacted by demand for drilling and completion fluids, environmental solutions and borehole enlargement technologies.
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On a geographic basis, increased activity in the U.S. deepwater market and rising offshore investment in the Eastern Hemisphere region, including the North Sea, Former Soviet Union and Middle East/Asia, accounted for the majority of the sequential improvement.
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Business …
VWR International, Inc., West Chester, PA, supplier to the global research laboratory industry, has acquired the remaining 76% interest in KMF Laborchemie Handels GmbH, a German-based scientific laboratory supply distributor.
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KMF has 70 employees, all based in Germany, with annual revenues of US$45 million.
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KMF’s customers include research institutes, universities, public control laboratories, pharmaceutical and other industries. In addition to its central warehouse in Sankt Augustin, Germany, KMF has branch offices in Lohmar and Leipzig. The Company’s mission is to deliver excellence in distribution of scientific supplies and customer service.
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VWR International is a lab supply distributor with worldwide sales in excess of $3 billion. VWR’s …
Private equity firm The Carlyle Group has agreed to acquire The Goodyear Tire & Rubber Company’s Engineered Products Division for $1.475 billion in cash.
Goodyear Engineered Products manufactures hoses, conveyor belts and power transmission belts, as well as tank tracks for military and off-road vehicles. With approximately $1.5 billion in sales, the company serves more than 4,500 customers around the world in a variety of end markets. Following the transaction, the company’s headquarters will remain inAkron, OH, and current management, including President and CEO Timothy R. Toppen, will continue to lead the business.
The Goodyear Tire & Rubber Company is one of the world’s largest …
VWR International, Inc., West Chester, PA, a distributor to the global research laboratory industry, announced that Goldman Sachs & Co. and Banc of America Securities LLC have been retained to explore strategic options for VWR.
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VWR is owned by Clayton, Dubilier & Rice, which bought the company from Merck KGaA of Germany for $1.65 billion in April 2004.
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John Ballbach, president and CEO of VWR, said, “As this process moves forward, we remain committed to maintaining our strong relationships with our customers and suppliers and to the continued growth of our business.”
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The company does not expect to disclose further developments regarding the process until the review of strategic options has been completed.
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VWR International …
ISCO Industries, Louisville, KY, distributor and supplier of polyethylene (HDPE) piping products, has purchased Fraser Mining and Industrial Supply Company in Mansfield, TX.
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“Fraser Mining and Industrial Supply has fostered an excellent reputation across Texas and the south central United States, especially in service to the mining industry. With the similarities in our product lines and emphasis on HDPE, this move provides us with a location in the north Texas area, while giving us a strong presence in the Texas mining market, said Jimmy Kirchdorfer, president of ISCO Industries.
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ISCO also has nearby stocking and sales facilities in the Houston, Texas and Tulsa, Oklahoma areas.
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Fraser Mining and Industrial …
Milacron Inc., Cincinnati, OH, reported a net loss for the year of $39.7 million, compared with a net loss of $14 million in 2005.
Sales in 2006 reached $820 million, up from $809 million in 2005. New orders were $828 million compared to $819 million in the prior year.
In the fourth quarter of 2006 of $8.6 million, including $5.1 million in restructuring costs and $1.8 million in refinancing charges. This compared to net earnings in the fourth quarter of 2005 of $5.8 million, which included a $5.5 million tax benefit.
Fourth quarter sales were $198 million, down from $217 million in the year-ago quarter. New orders were $203 million, compared to $212 million in 2005. The bulk of new orders came late in the quarter, which negatively impacted …
Saint-Gobain’s Building Distribution Sector has acquired Galvano Groothandel BV (the Netherlands), Schulte Tiefbau (Germany) and four companies belonging to the Norman group (Channel Isles).
Galvano Groothandel BV is a plumbing-heating wholesaler in the Netherlands. With estimated sales of 84 million euros in 2006, the company has 177 employees. Through this acquisition, Saint-Gobain Building Distribution establishes a foothold on the Dutch distribution market for plumbing-heating products and strengthens its European Division dedicated to this market.
Germany’s specialist civil engineering distributor, Schulte Tiefbau operates 13 branches specializing in water supply. With sales of 62 million euros …
