Rales Brothers' Danaher Announces Split
Legendary brothers Steven and Mitchell Rales have worked quietly for the past three decades on their $62B empire. Now, their company, Danaher Corp, is ready for a second act, declaring it will split into two parts. One side will focus on science and technology growth while the other will stick to the traditional manufacturing business, the Washington Post reports. The spinoff will be called NewCo until they come up with a name. Danaher was named for the brothers' favorite trout fishing river and features a portfolio of often overlooked diamonds in the rough like fuel pumps and water treatment equipment. For the most part, both brothers have stayed out of the public eye; however, Steven owns a production company that has funded award-winning films like The Grand Budapest Hotel, and Mitchell (pictured with wife Emily) has a museum with an impressive post-World War II art collection. The split is expected to be completed by the end of 2016. It appears Danaher is remaining at its HQ a few blocks away from the White House. No word on the location of the spinoff. [WaPo]
