September 6, 2019 / 12:49 PM / 3 months ago

Thermo Fisher, Danaher among firms competing for KKR's LGC Group: Bloomberg

FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid

(Reuters) - Medical device makers Thermo Fisher Scientific Inc (TMO.N) and Danaher Corp (DHR.N) have expressed interest in KKR & Co’s (KKR.N) potential sale of its scientific measurement and testing company LGC Group, Bloomberg reported on Friday.

The sale of LGC could get the private equity firm more than $2 billion, including debt, the report said, citing people familiar with the matter.

Blackstone Group Inc (BX.N), Carlyle Group LP (CG.O), CVC Capital Partners and EQT Partners are also weighing offers for the business, according to the report, which added that the talks are at an early stage.

LGC, previously called Laboratory of the Government Chemist, generates annual earnings before interest, taxes, depreciation and amortization of about $150 million after factoring in its recent acquisitions, the report said.

A KKR spokeswoman and EQT Partners declined to comment to a Reuters request. Blackstone, Carlyle and CVC Capital were not immediately respond to a request for comment. Thermo Fisher and Danaher too did not immediately respond.

Reporting by Manojna Maddipatla in Bengaluru; Editing by Arun Koyyur

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