Thermo Electron selling Peek unit

WALTHAM — Thermo Electron has agreed to sell is Peek Ltd. unit to an investment firm, First Atlantic Capital of New York for $128 million in cash and debt. Peek is a maker of hardware and software for traffic control systems. The Boston Globe reported that Thermo Electron had agreed to sell Peek so it could concentrate on its medical instruments business. Thermo Electron is the largest manufacturer of measuring devices for the medical industry. The Globe reported that Thermo Electron announced in it statement reporting the sale that it also would be shedding its paper recycling and health-care product units.