The Collaborative International Dictionary of English v.0.48:

Equilibrate \E`qui*li"brate\, v. t. [imp. & p. p.
   Equilibrated; p. pr. & vb. n. Equilibrating.] [L.
   aequilibratus in equilibrium; aequus equal + libra balance.
   See Equilibrium.]
   To balance two scales, sides, or ends; to keep even with
   equal weight on each side; to keep in equipoise. --H.
   Spenser.
   [1913 Webster]

WordNet (r) 3.0 (2006):

equilibrate
    v 1: bring to a chemical stasis or equilibrium
    2: bring into balance or equilibrium; "She has to balance work
       and her domestic duties"; "balance the two weights" [syn:
       balance, equilibrate, equilibrize, equilibrise] [ant:
       unbalance]