Foley & Lardner LLP announced today it served as the legal counsel for its Ohio-based client, Farrar Scientific, in its acquisition by Trane Technologies, a global climate innovator. Trane Technologies acquired Farrar Scientific for an upfront transaction value of $250 million, with a total transaction value of up to $365 million, inclusive of $115 million in additional payout potential in 2025 tied to the attainment of key financial targets.
Farrar Scientific is a leader in ultra-low temperature control for biopharmaceutical and other life science applications. Farrar Scientific’s proprietary technology fills an unmet need for flexible, modular, and efficient ultra-low temperature process and storage, including cooling and heating/thawing. Trane Technologies acquired 100% of Farrar Scientific’s assets, including its patented ultra-low temperature control technologies, a development and assembly operation in Marietta, Ohio, and a specialized team of engineers, sales engineers, operators, and technicians.
The Foley deal team that served as legal counsel for Farrar Scientific was led by Partner Christopher Converse and included Partners Christopher Babcock, Michael Donohue, Stephen Gilles, Holden Brooks, and Associate Kyndle Bennett. Falls River Group acted as the M&A advisor to Farrar Scientific in the transaction.