The Danaher Corporation has bought LEM`s instruments business, based mainly in the UK and Austria, for around $57m in cash. The deal, which is subject to regulatory approvals, will help Swiss-based LEM to cut its debt as it restructures its business.
LEM Instruments, which employs about 325 people around the world, generated sales last year worth some $45m. It includes the Skelmersdale-based operation that LEM acquired in 1989 when it bought 80% of HEME (Hall Effect Measurement Equipment) International.
The Instruments business, which sells electrical measurement products, will become part of Danaher`s Electronic Test operation.