Thomas Scientific, Inc. acquired Denville Scientific Inc. from Harvard Bioscience, Inc. for approximately $20 million.
January 21, 2018
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Thomas Scientific, Inc. acquired Denville Scientific Inc. from Harvard Bioscience, Inc. (NasdaqGM:HBIO) for approximately $20 million on January 22, 2018. The consideration includes earn-out provision of $3 million. In a related transaction, Harvard Bioscience entered into a definitive merger agreement to acquire Data Sciences International, Inc. for approximately $70 million on January 22, 2018. For the year ended December 31, 2017, Denville generated approximately $24.5 million in revenues. The proceeds from the sale will be used by Harvard Bioscience for acquisition of Data Sciences. In connection with the closing of the Denville and Data Sciences transactions, the Harvard Bioscience’s existing credit facilities will be terminated, with the term loan of approximately $12 million in outstanding principal being paid in full, and it will enter into a new term loan and an up to $25 million revolving line of credit. Janney Montgomery Scott LLC is serving as exclusive financial advisor and Burns & Levinson LLP is serving as legal counsel to Harvard Bioscience.
Thomas Scientific, Inc. completed the acquisition of Denville Scientific Inc. from Harvard Bioscience, Inc. (NasdaqGM:HBIO) on January 22, 2018.
Harvard Bioscience, Inc. is a developer, manufacturer and seller of technologies, products and services that enable fundamental advances in life science applications, including research, pharmaceutical and therapy discovery, bioproduction and preclinical testing for pharmaceutical and therapy development. Its products and services are sold globally to customers ranging from renowned academic institutions and government laboratories to pharmaceutical, biotechnology and contract research organizations (CROs). Its two product categories are cellular and molecular technology (CMT) and Preclinical. The CMT product family is primarily composed of products supporting research related to molecular, cellular, organ and organoid technologies. The Preclinical product family includes products that support the preclinical research and testing phase for drug development, and in particular, testing related to data collection and analysis for safety and regulatory compliance.
HARVARD BIOSCIENCE, INC. 
