Genstar Capital to acquire NEN Life Science Products division of DuPont.FOSTER CITY, Calif.--(BW HealthWire)--April 2, 1997--Genstar Capital LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control announced today that it has signed a definitive agreement with DuPont to purchase the NEN Nen, river, China Nen (nŭn) or Nonni (nôn`nē), river, 740 mi (1,191 km) long, rising in the Yilehuli (Ilkuri) Mts., N Heilongjiang prov. (TM) Life Science Products business of DuPont. NEN Life Science is a leading manufacturer and marketer of specialty biochemicals used for labeling and detection in the life science research and pharmaceutical development markets. NEN, headquartered in Boston, has a worldwide customer base of leading pharmaceutical and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. , academic institutions and government research laboratories. "We are excited about the acquisition of NEN Life Science because of its long history as a high quality, well-respected supplier to the life science research market and opportunities to accelerate its growth through new product introductions, acquisitions, and alliances," stated Jean-Pierre Conte, a principal of Genstar Capital. "The life science research and pharmaceutical development markets are dynamic and fast growing, with rapid product development occuring in the areas of molecular biology molecular biology, scientific study of the molecular basis of life processes, including cellular respiration, excretion, and reproduction. The term molecular biology was coined in 1938 by Warren Weaver, then director of the natural sciences program at the Rockefeller , drug development, biochemistry, cell biology Cell biology The study of the activities, functions, properties, and structures of cells. Cells were discovered in the middle of the seventeenth century after the microscope was invented. , immunology, and virology virology, study of viruses and their role in disease. Many viruses, such as animal RNA viruses and viruses that infect bacteria, or bacteriophages, have become useful laboratory tools in genetic studies and in work on the cellular metabolic control of gene expression . NEN is well positioned to participate in all of these markets." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. James J. Gooch, world wide business director for NEN Life Science Products, "It is our shared belief that coupling the key attributes of the NEN business with the business experience that the Genstar team has gathered from across a broad range of businesses and industries is a winning formula for success." NEN Life Science Products is a leading manufacturer and marketer of in vitro in vitro /in vi·tro/ (in ve´tro) [L.] within a glass; observable in a test tube; in an artificial environment. in vi·tro adj. In an artificial environment outside a living organism. biochemicals and related products and services used in a broad range of applications including life science research, and high throughput screening for pharmaceutical drug development. NEN Life Science was founded in 1956 as New England Nuclear Company and was acquired by DuPont in 1981. DuPont is a research and technology-based global chemical and energy company offering high-performance products based on chemicals, polymers, fibers and petroleum. Committed to better things for better living, DuPont serves worldwide markets in the aerospace, agriculture, apparel, automotive, construction, electronics, packaging, refining and transportation industries. Genstar Capital LLC is a private equity investment firm focused on acquiring companies in growth industries. Genstar Capital's investment professionals manage Genstar Capital Partners II, L.P., an investment fund, and oversee investments valued at over $500 million. CONTACT: Genstar Capital LLC Jean-Pierre L. Conte, 415/286-2350 or DuPont Susan Gaffney, 302/774-2698 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion