Medical packaging company Gerresheimer AG is selling its company Kimble Chase, a joint venture with Chase Scientific Glass, to Duran Group, a portfolio company of One Equity Partners.
Gerresheimer, based in Dusseldorf, Germany, a maker of pharmaceutical packaging and medical devices, listed the transaction's value at $131 million.
The operation produces laboratory glassware, which is not a core business, said Gerresheimer CEO Uwe Röhrhoff,
Rockwood, Tenn.-based Kimble Chase Life Science and Research Products produces laboratory and scientific glassware. It currently employs 760 people worldwide and has manufacturing facilities in Tennessee, New York, Mexico, Germany and China.