The Carlyle Group and Management Close Majority Investment in Thomas Scientific
Investment Will Support Continued Growth in Scientific and Research Equipment Supplier
WASHINGTON, DC – Global alternative asset manager The Carlyle Group (NASDAQ: CG), today announced that it has closed a majority investment in Thomas Scientific, a fast-growing provider of laboratory supplies and equipment to the scientific and research community. Rob Patterson, a fourth-generation family owner, will retain a significant ownership stake in the company. Charles Simmons will continue as President and Chief Executive Officer. Financial terms of the transaction were not disclosed.
Thomas Scientific was founded in 1900 by Arthur H. Thomas and J. Edward Patterson. Headquartered in Swedesboro, New Jersey, the company sells products from more than 800 suppliers, serving more than 9,000 customers in 50 states, as well as internationally.
Adam Glucksman, Carlyle Managing Director, said, “We believe in the Thomas Scientific brand and the value and service it provides its customers. We are pleased to join with Rob Patterson and management to further grow the business.“
Charles Simmons said, “I am proud of our company and the strong platform we have built. We look forward to partnering with Carlyle to better serve our customers and supply partners and benefiting from Carlyle’s track record of value creation.”
“I am thrilled to have found a partner in The Carlyle Group. Carlyle shares our vision of providing value and service to our customers,” said Rob Patterson. “We know our existing customers will benefit from Carlyle’s deep industry expertise.”
Equity for the investment came from Carlyle Equity Opportunity Fund II, a $2.4 billion fund that invests in middle-market companies in North America. Recent fund investments include Array, a provider of retail merchandising displays and store fixtures to the global prestige cosmetics industry, and Claritas, a market research company that provides marketing information resources and solutions.
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About Thomas Scientific
Thomas Scientific is a fast-growing distributor of laboratory products and equipment used by the scientific and research community. Thomas Scientific distributes nearly 700,000 products from more than 800 suppliers to over 9,000 customers in all 50 states and internationally. Products include laboratory equipment, consumables, chemicals, and safety products. Thomas Scientific and all of its employees are committed to offering quality laboratory products while catering to the unique needs of the individual customer. Since 1900, our dedication to provide the best in science products with personal, efficient service sets Thomas apart from the competition. Whether you work in a lab setting or perform your testing in the field, Thomas Scientific has the products you need.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $170 billion of assets under management across 299 investment vehicles as of June 30, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,550 people in 31 offices across six continents.
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