Press Release
One Equity Partners (OEP) acquired Wheaton Industries, Inc.
- Transaction significantly strengthens the OEP portfolio in the attractive life science and healthcare markets
- Duran Group, a portfolio company of OEP, and Wheaton will benefit from a larger base to grow from due to complementarity of products
Frankfurt, 09/15/2015 - Duran Group, a portfolio company of funds advised by OEP Capital Advisors, L.P. ("OEP") has acquired Wheaton Industries, Inc. ("Wheaton") from Incline Equity Partners. A definitive Stock Purchase Agreement (SPA) was previously signed and the transaction closed yesterday after all closing conditions and required filings were satisfied.
Wheaton is a premier global supplier of laboratory consumable products and provider of customized solutions used for life science R&D, in vitro diagnostics and medical packaging. The Company has over 126 years of experience in manufacturing and the supply of the highest quality glass and plastic laboratory supplies. Duran Group, which was acquired by OEP in February 2015, is a leading brand and global manufacturer of premium borosilicate glass, used primarily for laboratory glassware, in pharmaceutical, chemical and biotech laboratories. The acquisition of Wheaton further strengthens OEP's portfolio in the attractive life science and healthcare markets.
Both companies, Duran Group and Wheaton, will benefit from a larger base to grow from due to the complementarity of their products. WHEATON(R) is a leading brand for glass and plasticware in North America while DURAN(R) is the preferred brand for premium laboratory glassware in Europe. Both brands enjoy excellent recognition and image in Asia and many other global markets.
"OEP is excited about the acquisition of Wheaton by Duran Group as it represents a leading brand in the life science market. We are looking forward to working together closely with the management of both companies, to further accelerate the growth Wheaton has enjoyed. Wheaton and Duran are both strong and well-established brands, which are highly complementary in terms of their focus markets and product portfolios. We are confident that the combination of the two companies will help them to expand their market positions in the life science sector and to realize attractive cross-selling synergies for their international clients", said Dr Jörg Zirener, Partner, OEP.
"The entire Wheaton management team is excited to be part of the OEP family", said Wayne Brinster, President and CEO, Wheaton. "This acquisition represents a new chapter for Wheaton and will allow us to accelerate a number of growth programs already in progress. Joining a company with the expertise and capabilities of Duran Group additionally opens up many possibilities for improvements and growth."
About OEP Capital Advisors
OEP is a partnership passionate for compelling business ideas that create synergies and growth. Since the inception of OEP in 2001, the team at OEP has managed approximately $11 billion in total investments and committed capital for JPMorgan Chase & Co., and has delivered strong returns throughout this fourteen year period. OEP has proven to be an appreciated business partner for family owned companies and management teams in Europe and the Americas.
In early 2015, OEP investment professionals formed a new private equity investment advisory firm, OEP Capital Advisors, L.P. This new firm is independent from JPMorgan Chase & Co. and manages investments on its behalf as well as on other third-party investors. OEP's capital comes with an entrepreneurial spirit and commitment aiming to make a difference for the most valuable asset: the customer. The team at OEP manages its business from New York, Chicago and Frankfurt.
About Wheaton
Throughout its 126-year history, Wheaton has been dedicated to supporting scientific advances and discovery by providing innovative solutions for the laboratory research, diagnostic and specialty pharmaceutical industries. The company's expertise in designing and manufacturing plastic and glass containers with a wide selection of closure systems and custom solutions ensures the secure storage and delivery of sensitive materials and precious biomedical specimens around the globe.
For more information, please visit www.wheaton.com.
About Duran Group
Duran Group is a leading global manufacturer of specialty glass solutions for the laboratory and industrial glass markets and possesses the entire value-added chain from the melting process to precision forming and working processes. The company focuses on three business segments: laboratory glass, consumer glass and industrial glass. It operates manufacturing sites in Germany, UK, Croatia and India.
For further information, please visit www.duran-group.com.
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Press contact for OEP:
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