Thermo Fisher Scientific, a world leader in serving science, announced that the company has entered into a definitive agreement with Solventum to acquire Solventum’s Purification & Filtration business for about $4.1 billion in cash.
Solventum’s Purification & Filtration business is a leading provider of purification and filtration technologies used in the production of biologics and in medical technologies and industrial applications. And the Solventum business operates globally with sites across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region, and has about 2,500 colleagues. In 2024, Solventum’s Purification & Filtration business generated approximately $1 billion of revenue.
Solventum’s Purification & Filtration business is complementary to Thermo Fisher’s bioproduction business. Thermo Fisher now has a leading portfolio of offerings in cell culture media and single-use technologies. Solventum’s innovative filtration portfolio broadens Thermo Fisher’s capabilities in the development and manufacturing of biologics, spanning upstream and downstream workflows.
The deal is expected to be completed by the end of 2025 and is subject to customary closing conditions and regulatory approvals. After the transaction closes, Solventum’s Purification & Filtration business will become part of Thermo Fisher’s Life Sciences Solutions segment.
Solventum’s Purification & Filtration, as part of Thermo Fisher, is expected to generate mid- to high-single digit organic growth and the application of the PPI Business System will enable strong margin expansion and meaningful synergy realization. During the first year of ownership, the deal is expected to be dilutive to adjusted EPS by $0.06.
For Thermo Fisher, WilmerHale is serving as principal deal counsel and Wells Fargo as exclusive financial advisor.
KEY QUOTES:
“The addition of Solventum’s business is an outstanding strategic fit with our company and will create significant value for our customers and shareholders. Solventum’s portfolio of solutions will be valued by our customers, and further demonstrate our disciplined capital deployment strategy which has an excellent track record of creating shareholder value.”
“As the trusted partner to our customers, Solventum’s Purification & Filtration business will expand and add differentiated capabilities to our bioprocessing portfolio to better serve our customers in this rapidly growing market. We look forward to welcoming our new colleagues to Thermo Fisher.”
– Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher
