Kewaunee Scientific Corporation Completes Acquisition of Nu Aire
Kewaunee Scientific (NASDAQ: KEQU) has completed the acquisition of Nu Aire, a Minneapolis-based manufacturer of laboratory equipment, for $55 million. Nu Aire specializes in biological safety cabinets, airflow products, CO2 incubators, and related equipment serving life sciences, healthcare, and education sectors. The acquisition expands Kewaunee's product portfolio and market reach through Nu Aire's established distribution network. Bill Peters will continue as Nu Aire's President and join Kewaunee's corporate management team. The combined organization aims to enhance product offerings and leverage operational synergies for improved performance and sustainable growth.
Kewaunee Scientific (NASDAQ: KEQU) ha completato l'acquisizione di Nu Aire, un produttore di attrezzature da laboratorio con sede a Minneapolis, per 55 milioni di dollari. Nu Aire è specializzata in armadi di sicurezza biologica, prodotti per il flusso d'aria, incubatori CO2 e attrezzature correlate che servono i settori delle scienze della vita, della salute e dell'istruzione. L'acquisizione espande il portfolio prodotti di Kewaunee e la sua portata di mercato attraverso la rete di distribuzione consolidata di Nu Aire. Bill Peters continuerà come Presidente di Nu Aire e si unirà al team di gestione aziendale di Kewaunee. L'organizzazione combinata mira a migliorare l'offerta di prodotti e a sfruttare le sinergie operative per una performance migliore e una crescita sostenibile.
Kewaunee Scientific (NASDAQ: KEQU) ha completado la adquisición de Nu Aire, un fabricante de equipos de laboratorio con sede en Minneapolis, por 55 millones de dólares. Nu Aire se especializa en cabinas de seguridad biológica, productos de flujo de aire, incubadoras de CO2 y equipos relacionados que sirven a los sectores de ciencias de la vida, salud y educación. La adquisición expande el portafolio de productos de Kewaunee y su alcance en el mercado a través de la red de distribución establecida de Nu Aire. Bill Peters continuará como Presidente de Nu Aire y se unirá al equipo de gestión de Kewaunee. La organización combinada tiene como objetivo mejorar la oferta de productos y aprovechar las sinergias operativas para un mejor rendimiento y un crecimiento sostenible.
케와우니 사이언티픽 (NASDAQ: KEQU)는 미네소타주 미니애폴리스에 본사를 둔 실험실 장비 제조업체인 누 에어를 5500만 달러에 인수했다고 발표했습니다. 누 에어는 생물학적 안전 캐비닛, 공기 흐름 제품, CO2 인큐베이터 및 생명 과학, 의료 및 교육 분야에 서비스를 제공하는 관련 장비를 전문으로 합니다. 이번 인수로 케와우니는 누 에어의 확립된 유통 네트워크를 통해 제품 포트폴리오와 시장 범위를 확장하게 되었습니다. 빌 피터스는 누 에어의 사장직을 계속 유지하며 케와우니의 기업 관리팀에 합류할 예정입니다. 결합된 조직은 제품 제공을 향상시키고 운영 시너지를 활용하여 성과 개선과 지속 가능한 성장을 목표로 하고 있습니다.
Kewaunee Scientific (NASDAQ: KEQU) a finalisé l'acquisition de Nu Aire, un fabricant d'équipements de laboratoire basé à Minneapolis, pour 55 millions de dollars. Nu Aire se spécialise dans les postes de sécurité biologique, les produits de flux d'air, les incubateurs CO2 et les équipements connexes servant les secteurs des sciences de la vie, de la santé et de l'éducation. L'acquisition élargit le portefeuille de produits de Kewaunee et son rayon d'action sur le marché grâce au réseau de distribution établi de Nu Aire. Bill Peters continuera en tant que Président de Nu Aire et rejoindra l'équipe de direction de Kewaunee. L'organisation combinée vise à améliorer l'offre de produits et à tirer parti des synergies opérationnelles pour une meilleure performance et une croissance durable.
Kewaunee Scientific (NASDAQ: KEQU) hat die Übernahme von Nu Aire, einem in Minneapolis ansässigen Hersteller von Laborgeräten, für 55 Millionen US-Dollar abgeschlossen. Nu Aire ist spezialisiert auf biologische Sicherheitsschränke, Produkte zur Luftstromkontrolle, CO2-Inkubatoren und verwandte Geräte, die die Bereiche der Lebenswissenschaften, des Gesundheitswesens und der Bildung bedienen. Die Übernahme erweitert das Produktportfolio von Kewaunee und dessen Reichweite auf dem Markt durch das etablierte Vertriebsnetz von Nu Aire. Bill Peters wird weiterhin Präsident von Nu Aire sein und dem Unternehmensleitungsteam von Kewaunee beitreten. Die kombinierte Organisation hat das Ziel, das Produktangebot zu verbessern und operative Synergien zu nutzen, um die Leistung zu steigern und nachhaltiges Wachstum zu fördern.
- Strategic acquisition worth $55 million expands product portfolio
- Access to new distribution channels and geographic markets
- Addition of market leader in biological safety cabinets
- Expansion into recession-resistant industries
- Operational synergies expected to improve performance
- Diversification of customer base and product offerings
- Significant capital expenditure of $55 million
- Debt financing through PNC Bank increases leverage
- Integration costs and expenses related to the acquisition
Insights
This
- Immediate market leadership in biological safety cabinets and airflow products
- Entry into recession-resistant sectors (healthcare, life sciences, education)
- Geographic expansion through Nu Aire's distribution network
- Complementary product portfolio enhancing lab furniture offerings
The transaction structure appears well-planned, with PNC Bank providing financing. The retention of Nu Aire's president and integration into Kewaunee's management team supports operational continuity. Expected synergies in operations and cross-selling opportunities should drive margin improvements and revenue growth.
This acquisition positions Kewaunee strategically in high-growth laboratory equipment segments. The biological safety cabinet market is experiencing robust growth driven by:
- Increased life sciences R&D spending
- Stricter safety regulations in healthcare and research facilities
- Rising demand for controlled environment solutions
Nu Aire's diversified customer base and market-leading position in North America provides Kewaunee with immediate scale and credibility in these segments. The deal's timing aligns with accelerating global investments in life sciences infrastructure, particularly in emerging markets where Kewaunee already has manufacturing presence (India) and sales offices (Asia, Middle East).
Kewaunee Scientific Corporation ("Kewaunee"), a leader in laboratory furniture and technical product design and manufacturing, today announced the successful acquisition of Nu Aire, a
The acquisition of Nu Aire presents a unique opportunity for Kewaunee to combine its robust capabilities with a recognized market leader whose product portfolio and well-developed channel strategy complement Kewaunee's existing offerings. This acquisition expands Kewaunee's capabilities, allowing the combined organization to better meet the diverse needs of end-users in laboratory furnishings. Additionally, Nu Aire has established distribution partners in regions where Kewaunee has not previously had a presence. This move accelerates Kewaunee's vision of becoming the market leader in the design and manufacturing of laboratory furniture and technical products essential for outfitting laboratories.
"I am extremely excited to welcome Nu Aire, along with its associates and channel partners, to the Kewaunee team," said Thomas D. Hull III, President and Chief Executive Officer of Kewaunee. "Nu Aire's 50-plus-year history is a testament to the world-class organization built by the Peters family, founded by Max Peters with contributions by his sons James, Gerald, Richard, and Bill. As a part of the Kewaunee team, we are committed to preserving the legacy the Peters family established. I am also pleased to announce that Bill Peters will continue his role as President of Nu Aire and will join Kewaunee's corporate management team."
Nu Aire delivers an industry-leading product line that is recognized for its innovation and reliability, catering to critical sectors such as healthcare, life sciences, and education. These recession-resistant industries generally continue to thrive during economic slowdowns, providing Nu Aire with protection against market cycles. Furthermore, with a highly diversified customer base, Nu Aire is not overly reliant on any one customer or market segment. Nu Aire is also poised to capitalize on tailwinds from ongoing global investments in the life sciences, healthcare, and education sectors, as these industries experience continued investment prioritization. As a result, Nu Aire is strategically positioned to continue growing globally.
"Nu Aire was founded with the purpose of advancing science through the highest-quality, most dependable laboratory products on the market," said Bill Peters, President of Nu Aire. "I am thrilled to continue that mission by joining the Kewaunee family and leveraging our complementary strengths to provide our customers with lab environments that are safe, efficient, and focused on the future."
The acquisition of Nu Aire by Kewaunee marks a transformative moment for both companies, creating a more robust, diversified organization that is better equipped to serve global laboratory needs. Through this acquisition, the combined organization will enhance its product offerings and market reach, providing its channel partners with new growth opportunities.
Tom Hull noted, "I believe that the combination of complementary products and services, along with operational synergies, will lead to improved operating performance, stronger customer relationships, and sustainable growth."
K&L Gates LLP served as legal advisor to Kewaunee, while Carl Marks Securities LLC acted as the lead financial advisor. PNC Bank provided the financing for the transaction.
About Nu Aire
Founded in 1971 and based in
About Kewaunee Scientific
Founded in 1906, Kewaunee Scientific Corporation is a recognized global leader in the design, manufacture, and installation of laboratory, healthcare, and technical furniture products. The Company's products include steel and wood casework, fume hoods, adaptable modular systems, moveable workstations, stand-alone benches, biological safety cabinets, and epoxy resin work surfaces and sinks.
The Company's corporate headquarters are located in
This press release contains statements that Kewaunee believes to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact included in this press release, including statements regarding Kewaunee's future financial condition, results of operations, business operations and business prospects, are forward-looking statements. Words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "predict," "believe" and similar words, expressions and variations of these words and expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions, and other important factors that could significantly impact results or achievements expressed or implied by such forward-looking statements. Such factors, risks, uncertainties and assumptions include, but are not limited to: competitive and general economic conditions, including disruptions from government mandates, both domestically and internationally, as well as supplier constraints and other supply disruptions; changes in customer demands; technological changes in our operations or in our industry; dependence on customers' required delivery schedules; risks related to fluctuations in Kewaunee's operating results from quarter to quarter; risks related to international operations, including foreign currency fluctuations; changes in the legal and regulatory environment; changes in raw materials and commodity costs; acts of terrorism, war, governmental action, and natural disasters and other Force Majeure events. The cautionary statements made pursuant to the Reform Act herein and elsewhere by us should not be construed as exhaustive. We cannot always predict what factors would cause actual results to differ materially from those indicated by the forward-looking statements. Over time, our actual results, performance, or achievements will likely differ from the anticipated results, performance or achievements that are expressed or implied by our forward-looking statements, and such difference might be significant and harmful to our stockholders' interest. Many important factors that could cause such a difference are described under the caption "Risk Factors," in Item 1A of our Annual Report on Form 10-K for the fiscal year ended April 30, 2024, which you should review carefully, and in our subsequent quarterly reports on Form 10-Q and current reports on Form 8-K. These reports are available on our investor relations website at www.kewaunee.com and on the SEC website at www.sec.gov. These forward-looking statements speak only as of the date of this document. Kewaunee assumes no obligation, and expressly disclaims any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: | Donald T. Gardner III |
704/871-3274 |
View original content to download multimedia:https://www.prnewswire.com/news-releases/kewaunee-scientific-corporation-completes-acquisition-of-nu-aire-302294066.html
SOURCE Kewaunee Scientific Corporation
FAQ
How much did Kewaunee Scientific (KEQU) pay for Nu Aire?
What products does Nu Aire manufacture?
Who will lead Nu Aire after the acquisition by KEQU?
What are the main industries served by Nu Aire?
