One way is to have a hidden picture box and setup the font specs of that picture box the way you want.
Then use the TextHeight and TextWidth methods of the PictureBox to take your measurements. The Units will be in whatever scalemode the Picture Box is set to.
If you are printing directly to the printer or form then just set your font FIRST then take your measurements.
To center it
MyText = "Hello World"
<displayarea>.FontName = "Arial"
<displayarea>.FontSize = 14
<displayarea>.FontBold = True
TextWidth = <displayarea>.TextWidth(MyText)
TextLeftCoordinate = <displayarea>.ScaleLeft+<displayarea>.ScaleWidth/2-TextWidth/2
<displayarea>.CurrentX = TextLeftCoordinate
<displayarea>.Print MyText
Substitute displayarea with whatever object you are using.
Based on your updated answer note that the hidden picture box suggestion isn't used to print. It is only get text measurement. However you are printing directly to the form so you just need to use the code example above.