Business Wire

Process Sensing Technologies, a Battery Ventures Company, Announces New Majority Investment from AEA Investors

Share

Process Sensing Technologies (“PST”), a global manufacturer of instruments, analyzers and sensors for precision measurement and monitoring in a variety of critical industries, announced that global private-equity firm AEA Investors LP (“AEA”) has made a majority investment in the company. PST backer Battery Ventures will maintain a minority stake in the business. Baird acted as exclusive sell-side advisor; other terms of the transaction were not disclosed.

PST—a platform constructed under Battery’s ownership comprising seven global businesses—sells its sensors and other technologies into industries including pharmaceuticals, life sciences, specialty gases, petrochemicals, food-and-beverage, semiconductors and building automation. The company’s products measure moisture, oxygen and pressure, among other things, and help improve customers’ profitability while helping them stay compliant with often-stringent industry regulations.

Battery began the PST platform journey with its acquisition of Cambridge, U.K. company Michell Instruments in 2016. Since then, PST’s revenue has continued to increase through acquisition and organic growth, including through the difficult market environment of 2020.

“We are excited to partner with PST as it continues its strong growth trajectory, including with further acquisitions in attractive core and adjacent markets,” said Ramzi Gedeon, a Partner at AEA, a global private equity firm with extensive expertise in industrial technology. “PST has established itself as a global, market-leading platform and we look forward to supporting the management team in continuing to grow the business in the coming years.”

PST Chief Executive Adam Markin will continue to lead the business. “We have had a tremendous run with Battery and we are excited to welcome AEA to the team. AEA has an extremely strong brand in the industrial technology industry, and I look forward to utilizing their network and experience in scaling businesses as we go forward,” said Markin.

Battery General Partner Jesse Feldman added: “We are thrilled that AEA has chosen to partner with PST and its management team. The PST story is a great example of our industrial technology strategy in action—dynamic revenue expansion fueled by organic growth and complementary acquisitions. We are excited to stay involved with the business alongside AEA and we anticipate more growth for the company in the future.”

Since 2013, Battery’s industrial-technology practice has invested in more than 50 companies across the U.S. and Europe.

About Process Sensing Technologies

PST offers a wide range of gas, oxygen and level sensors as well as measurement instruments including probes, transmitters and analyzers for humidity, moisture, oxygen and trace impurities. The company has a global presence with multiple locations in Europe, Asia and the Americas. Current brands operating under the PST umbrella include Analytical Industries, Dynament, LDetek, Michell Instruments, NTRON, Rotronic and SST Sensing Ltd. https://www.processsensing.com/en-us/

About Battery Ventures

Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and covers technology markets from six strategic locations including Boston; Menlo Park and San Francisco, Calif.; Herzliya, Israel; London; and New York. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.

About AEA Investors

AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. Today, AEA’s approximately 90 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have over $15 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors: value added industrials, consumer, and services.

Contact information

BATTERY VENTURES CONTACT:
Rebecca Buckman
Battery Ventures
Vice President, Marketing Communications
becky@battery.com
650-292-2077

AEA CONTACT:
AEA Investors
Investor Relations
AEAIR@aeainvestors.com
+1 (212) 644-5900

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Amadis Appoints Fabrice Grenier as Business Architect, Global Lead25.1.2021 13:00:00 EETPress release

Amadis, the global payment software and consulting services provider, today announced the appointment of Fabrice Grenier as its Business Architect, Global Lead, focusing on EMEA (Europe, Middle East and Africa). He will be responsible for driving strategic initiatives and building strong partnerships, leveraging the unique AGNOS (EMV level 2 stack) and ARKOS (payment acceptance solution based on nexo standard) product lines, along with the Amadis One (SoftPOS / Tap2Phone / TapOnPhone) payment software framework. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005098/en/ Amadis' Business Architect, Global Lead, Fabrice Grenier (Photo: Business Wire) “Fabrice is a highly accomplished professional, and embodies the entrepreneurial spirit and drive that will help position Amadis as a trusted global solutions provider,” said Emmanuel Haydont, CEO and co-founder of Amadis. “I am confident that his extensive industry experienc

Cavli Wireless Starts Manufacturing of LPWAN, LTE, and 5G IoT Modules in India Based on GCT Semiconductor Chipsets25.1.2021 12:00:00 EETPress release

Cavli Wireless, has partnered with GCT Semiconductor and licensed the chipsets, to manufacture and produce LPWAN, LTE, and 5G IoT modules in India. This will be the first-ever initiative to kickstart the manufacturing of industry-grade LTE/LPWAN IoT modules in India. India is an emerging hub of IoT product development for the global market and an IoT module designed, developed, and manufactured in India is already welcoming news for Cavli’s existing customer base. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005181/en/ C42GM is a single-mode LTE CAT M1/NB1/NB2 (upgradable to Release 14) compatible Smart Cellular Module based on 3GPP Release 13, that comes with an integrated eSIM. C42GM has a healthy battery life profile of ten years due to Deep Sleep Mode capability. It also comes with integrated GNSS, Bluetooth 4.2 & Sigfox. The integrated eSIM coupled with Cavli Hubble Global Connectivity ensures the module can be

NATO Selects Thales to Supply Its First Defence Cloud for the Armed Forces25.1.2021 12:00:00 EETPress release

NATO has selected Thales to provide the first certified defence cloud solution that can be deployed in the theatre of operations in less than 24 hours. Thales was selected after a worldwide competitive tendering process on the basis of its defence systems integration know-how. With this contract, the Group enters a new market sector and demonstrating its capacity to integrate the best civil and commercial technologies available and to adapt them to the needs of the armed forces. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210125005006/en/ Nexium Defence Cloud © Thales As military operations become increasingly data-driven, access to critical data and applications is a crucial requirement for the armed forces. The defence cloud developed by Thales enables the forces to analyse and share data in real time from the command centre to the theatre of operations, pursue their digital transformation in complete security, and acce

Health Professionals Petition WHO for Guidance: People Should Use Nasal Sprays to Combat COVID-19 Pandemic; Doctors Use in Treating Patients25.1.2021 11:00:00 EETPress release

Today, a consortium of health professionals petitioned the World Health Organization to issue Guidance calling on: all people to use nasal sprays to combat the COVID-19 pandemic; doctors to use them in treating COVID-19 patients; and, Member-States to implement public health policies promoting the use of nasal sprays to both prevent and treat COVID-19. The petition asks the WHO to promulgate guidance that promotes the use of nasal sprays with data indicating that they are antiviral (blocks viral adhesion), virucidal (kills or deactivates the virus), anti-bacterial (block bacteria, in particular pneumonia bacteria) and bactericidal (kills bacteria, in particular pneumonia bacteria). “We have data showing that certain nasal sprays don’t just wash away the virus. Certain sprays actually block, deactivate and/or kill the virus,” said Dr. Gustavo Ferrer, a respiratory illness expert who has conducted research on the use of nasal sprays to combat COVID-19, and is among the petitioners. As a

OpenGate Capital Portfolio Company SMAC Signs Agreement to Sell Skylights Business to Kingspan Light + Air25.1.2021 11:00:00 EETPress release

OpenGate Capital, a global private equity firm, announced today that its portfolio company, SMAC, has reached an agreement to sell its skylights division to Kingspan Light + Air, a division of Kingspan Group Plc (ISEQ: KRX and LSE: KGP). The agreement includes the sale of Skydôme, a subsidiary focused on the production of daylighting, ventilation, smoke evacuation, and roofing access systems, and Essemes Services, a division of Skydôme, specializing in the installation of skylights and the maintenance of fire safety equipment. Terms of the agreement were not disclosed, and the final sale is subject to closing conditions and works council consultation. The pending sale of Skydôme and Essemes enables SMAC to focus on its core Travaux business, which provides waterproofing and building envelope solutions. This announcement follows the previous agreement to sell SMAC’s AXTER Membranes division which is targeted to close in 2021. OpenGate acquired SMAC from Colas Group in May of 2019. Andre

Mitsui Mining & Smelting Co., Ltd. to Initiate Mass Production of HRDP®, a Special Glass Carrier for Next-Generation Semiconductor Packaging Devices25.1.2021 09:00:00 EETPress release

For the commercialization of HRDP®1, a special glass carrier for the next-generation semiconductor packaging devices, Mitsui Mining & Smelting Co., Ltd. (President: Keiji Nishida; hereinafter, “Mitsui Kinzoku”) has been expanding the establishment of a system for mass production in collaboration with GEOMATEC Co., Ltd. (President: Kentaro Matsuzaki). Mitsui Kinzoku is pleased to announce today that mass production of HRDP® has started for a domestic multi-chip module manufacturer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210124005060/en/ Exterior photograph of HRDP®, in the 12-inch wafer type (Photo: Business Wire) In its January 2018 news release, Mitsui Kinzoku announced the development of HRDP®, a material for the creation of ultra-fine circuits using a glass carrier for the Fan Out panel level package, based on the RDL First method2. HRDP® is a special glass carrier capable of achieving high production efficiency o

Alaska Cargo and Cold Storage Launches Major Addition to the Global Cold Chain25.1.2021 08:01:00 EETPress release

Alaska Cargo and Cold Storage, LLC (ACCS) and the State of Alaska executed a 55-year lease agreement at Ted Stevens Anchorage International Airport (ANC), marking a major milestone in the development of a more than 700,000-square-foot, climate-controlled warehouse facility. With 32.5 million cubic feet of capacity, the facility will provide ANC with a critical piece of infrastructure at the world’s sixth-busiest cargo airport. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210124005094/en/ Alaska Cargo and Cold Storage, LLC signed a 55-year ground lease with the State of Alaska for a 700,000-square-foot cold storage facility strategically located at Ted Stevens Anchorage International Airport, the sixth-busiest cargo airport in the world. (Photo: Ted Stevens Anchorage International Airport) “This project will improve shipping to and through Anchorage, create jobs, and show the world that Alaska is open for business,” said Al

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom