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Dealipedia - Danaher acquires Viridor Instrumentation

Danaher acquires Viridor Instrumentation for $135 million

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Acquiring Company: Danaher View Profile Add Homepage Google Search
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Target Company: Viridor Instrumentation View Profile Charts Homepage
Deal Financials:
Price: $135 million
 
Date:
Announced: Dec 07, 2001

PRESS RELEASE

Danaher Corporation Announces the Signing of a Definitive Agreement To Acquire Viridor Instrumentation

WASHINGTON, Dec. 7 /PRNewswire/ -- Danaher Corporation (NYSE: DHR - news) announced today that it has signed a definitive agreement to purchase Viridor Instrumentation Limited (``Viridor'') from the Pennon Group Plc (PNN.L). The acquisition remains subject to regulatory approval and other customary closing conditions.

Viridor, with revenues of approximately $75 million, designs and manufactures analytical instruments for clean water, wastewater, ultrapure water and other fluids and materials. Viridor is based in the United Kingdom with operations in eight countries including the U.S. and Switzerland. The expected purchase price to be paid at closing is approximately $135 million. First year EPS accretion is expected to be minimal.

``Viridor represents an excellent product, technological, and geographical fit for our existing water quality platform,'' remarked H. Lawrence Culp, Jr., Danaher's President and Chief Executive Officer. ``Viridor enables our water quality group to compete more effectively on a global scale, facilitating our entry into complementary end markets such as beverage and pharmaceutical, while adding capabilities in ocean water and atmospheric testing. In addition, we expect to utilize our existing infrastructure to enable significant future profitability gains in the business.''

Danaher Corporation is a leading manufacturer of Process / Environmental Controls and Tools and Components (http://www.danaher.com ).

Statements in this release that are not strictly historical may be ``forward-looking'' statements, which involve risks and uncertainties. These include economic and currency conditions, market demand, pricing, and competitive and technological factors, among others, as set forth in the company's SEC filings.

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Dec 07 '07
This version submitted by SamBartolone

 

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