Thomas Scientific, a Swedesboro, New Jersey-based provider of laboratory supplies and equipment to the scientific and research community, received a majority investment from Global alternative asset manager The Carlyle Group (NASDAQ: CG).
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.
The financial terms of the transaction were not disclosed. 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.
The investment is designed to support the company’s continued growth.
Founded in 1900 by Arthur H. Thomas and J. Edward Patterson. Thomas Scientific is a distributor of laboratory products and equipment used by the scientific and research community.
The company currently sells 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.