Thermo Fisher’s $1.075 Billion Sale of its Microbiology Business to Astorg

On April 27, 2026, Thermo Fisher Scientific Inc. ("Thermo Fisher"), the world leader in serving science, announced that it has signed a definitive agreement to sell its microbiology business, which provides antimicrobial susceptibility testing and culture media solutions for clinical, pharmaceutical and food safety testing, to Astorg, a leading pan-European private equity firm, for consideration of approximately $1.075 billion, consisting of cash and a $50 million seller note. Cravath is representing Thermo Fisher in connection with the transaction.

The Cravath team was led by partners Ting S. Chen and Bethany A. Pfalzgraf and includes of counsel Joseph A. Marshall and associates Joshua Kameel, Julia Nagle, Debbie Park and Y. Grace Lin on M&A matters; partner Lauren Angelilli and associates Megan Samayoa and Ruth Goldstein Schapiro on tax matters; partner Matthew J. Bobby, senior attorney Aaron S. Cha and associate Caroline Wyatt on executive compensation and benefits matters; partner George E. Zobitz and associate Emily E. Gust on financing matters; partner David J. Kappos and associates Albert Wong and Pierre Schlaefli on intellectual property matters; partner Matthew Morreale and associate Star S. Gulant on environmental matters; and of counsels Joyce Law and Brian M. Budnick on real estate matters. Scarlett A. Neely also worked on executive compensation and benefits matters.