STATESVILLE, N.C. — Kewaunee Scientific Corporation, a leader in laboratory furniture and technical product design and manufacturing, has acquired Nu Aire, a Minneapolis-based laboratory equipment company, for $55 million, subject to certain adjustments for debt, cash, transaction expenses, and net working capital. 

Nu Aire manufactures biological safety cabinets, airflow products, CO2 incubators, ultralow freezers, animal handling equipment, pharmacy compounding isolators, and related parts and accessories. The company said that its products serve a diverse range of industries, including life sciences, healthcare, pharmacy, education, food and beverage, and industrial sectors.

Kewaunee, which is an FDMC 300 ranked company (#55), said its 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.