Thermo Fisher Scientific has entered into a definitive agreement to acquire UK-based Alfa Aesar for £256m.

Based in Heysham, Alfa Aesar is a manufacturer of research chemicals, with key research hubs in the US, Germany, China, South Korea, and India. It has a workforce of 480.

The company recorded revenues of approximately £78m in 2014.

Thermo Fisher plans to operate Alfa Aesar as part of its laboratory products and services segment.

The company expects the acquisition of Alfa Aesar to strengthen its existing portfolio of chemicals, solvents and reagents to support every laboratory application, including research, drug discovery, and development.

Thermo Fisher Scientific president and CEO Marc Casper said: "Customers will benefit from greater access to these products through our extensive global commercial reach."

Subject to customary closing conditions, including regulatory approvals, the transaction is expected to be concluded by the end of the year.

Thermo Fisher Scientific supports life sciences research, complex analytical challenges, the improving of patient diagnostics, and the increase of laboratory productivity. The company has operations in 50 countries, and generates revenues of $17bn.

Thermo Fisher's brands include Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services.

Part of Johnson Matthey, Alfa Aesar produces research chemicals, metals and materials that include inorganic, organic and organometallic compounds, pure metals and elements, precious metal compounds and catalysts, biochemicals, fuel cell products, and nanomaterials.