HQ Team
March 1, 2025: Thermo Fisher Scientific Inc., will buy Solventum’s purification and filtration business for $4.1 billion in cash to support the Waltham, Massachusetts-based company’s bioproduction business.
Solventum’s unit provides purification and filtration technologies that are used in biologics production, medical technologies, and industrial applications.
It operates globally with sites across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region and has approximately 2,500 employees. In 2024, Solventum’s Purification & Filtration business generated about $1 billion in revenue.
“Solventum’s purification & filtration business is highly complementary to Thermo Fisher’s bioproduction business. Today, Thermo Fisher has a leading portfolio of offerings in cell culture media and single-use technologies,” according to a company statement.
‘Strategic fit’
“The addition of Solventum’s business is an outstanding strategic fit with our company and will create significant value for our customers and shareholders,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher.
“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,” he said.
The transaction is expected to be completed by the end of 2025. Once 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 acquisition will enable strong margin expansion and meaningful synergy realisation.
Year five
Thermo Fisher expects to realise approximately $125 million of adjusted operating income from revenue and cost synergies by year five following the close.
Antitrust regulators in the UK last year cleared a $3.1 billion acquisition of Olink Holding AB by Thermo Fisher Scientific Inc., following an initial probe that began in May 2023.
The Competition and Marketing Authority has “investigated and cleared the anticipated acquisition by Thermo Fisher Scientific Inc., of Olink Holding AB and a “full text (will) to be published at a later date,” according to a regulator’s statement.
The regulator considered whether “it is or may be the case that this transaction if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002.
