KKR-backed Industrial Physics acquires test-equipment maker Vitrek
What's the deal? Industrial PhysicsDealroom has a profile for this one. Try Dealroom →, the KKR-backed packaging, material, and coating test and measurement group, has acquired VitrekDealroom has a profile for this one. Try Dealroom →, a US maker of electronic test and precision measurement equipment. It bought the company from the Branford Castle Fund, LPDealroom has a profile for this one. Try Dealroom →, managed by Branford Castle PartnersDealroom has a profile for this one. Try Dealroom →. Financial terms were not disclosed.
What each side does: Vitrek — spanning the Vitrek, MTIDealroom has a profile for this one. Try Dealroom →, and GaGeDealroom has a profile for this one. Try Dealroom → brands — designs electrical safety testing equipment, power analyzers, engine vibration balancing systems, and precision measurement instruments. Its customers span aerospace, defense, semiconductor, and medical device industries.
Industrial Physics runs 12 specialist brands across 19 industries in 75 countries, focused on packaging, materials, and coatings testing.
What's the endgame? The deal extends Industrial Physics into markets where precision, compliance, and safety testing are mission-critical. "Vitrek is an excellent addition to Industrial Physics, bringing highly differentiated technologies and deep technical expertise," said chief executive officer Andrew McCauley.
Why now? The purchase fits a buy-and-build strategy of assembling specialist test and measurement businesses. Brandon Brahm, a partner at KKR and co-head of its Ascendant strategy, called Vitrek "a strong fit with Industrial Physics' strategy of building a global leader in mission-critical test and measurement."
What changes for staff: KKR will help extend a broad-based employee ownership program to all Vitrek employees. Since 2011, KKR portfolio companies have awarded billions of dollars of equity value to over 200,000 non-senior management employees across more than 90 portfolio companies.
Vitrek's leadership signaled continuity. "Joining Industrial Physics gives us the resources and reach to grow faster in the markets we serve," said chief executive officer Don Millstein.
The transaction closed upon signing. Kirkland & EllisDealroom has a profile for this one. Try Dealroom → served as legal advisor to Industrial Physics; Stifel advised, and AkermanDealroom has a profile for this one. Try Dealroom → served as legal advisor to Branford Castle and Vitrek.
The signal: The deal reflects continued consolidation in the fragmented test and measurement sector, where private equity is rolling up specialist manufacturers to build global platforms serving regulated, safety-critical industries.
Read more: ariva.de
Image credit: Nadya Peek
