Source: Battery Ventures
Company Joins Michell Instruments as Part of Battery's Process Measurement Platform
BOSTON, MA--(Marketwired - Mar 21, 2017) - Battery Ventures, a global investment firm, has reached an agreement for its platform in the process-measurement market, Process Sensing Technologies (PST), to acquire Analytical Industries Inc. (AII), a manufacturer of electrochemical oxygen sensors and gas-analysis products. AII, based in Pomona, CA, will join Battery's portfolio of process-measurement and analysis companies, including Michell Instruments, which Battery acquired in October 2016.
The combination of Michell Instruments and AII will create a leading platform of comprehensive process-sensing technologies with global reach. Terms of the transaction were not disclosed.
Founded in 1994, Analytical Industries manufactures oxygen sensors and analyzers for process-control and safety applications across industrial, medical, and diving markets. The company's electrochemical-sensing technology and U.S. market presence provide a strong complement to Michell Instruments' existing product offering and geographic reach. Both companies' solutions are used by customers across the globe to ensure production quality as well as to optimize production and operating efficiency. AII will continue its proud tradition of high-quality manufacturing in Pomona, CA.
Adam Markin, PST group CEO said, "The combination of Analytical Industries with Michell Instruments will enable us to accelerate new product development, deepen our technical expertise, expand our geographic presence and broaden our product and service offerings. We are looking forward to working with management to grow the business and meet their long-term objectives."
"After closing the acquisition of Michell Instruments in October, it is exciting to make such quick progress in expanding our product portfolio across the PST platform with Analytical Industries," said Jesse Feldman, a Battery Ventures general partner. "We continue to find complementary companies with strong technologies to bring to the group and are focused on serving more customers on a global basis with a wide range of market-leading products."
Battery is continuing to expand its investment activity in the industrial-technology markets and has completed more than 40 industrial-related transactions across the U.S. and Europe since 2003.
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, Israel, and London. 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 Analytical Industries Inc.
Analytical Industries Inc., headquartered in Pomona, California, designs and manufactures innovative solutions for gas analysis, including advanced oxygen sensors and oxygen analyzer platforms. Analytical Industries Inc. is a leading worldwide supplier of oxygen sensors, PPM and percent oxygen sensors, PPB, PPM and percent oxygen analyzers, H2S, CO, Heliox, and Trimix analyzers to the industrial process control, natural gas, medical and professional sports diving industries. http://aii1.com/
About Process Sensing Technologies
Process Sensing Technologies (PST) provides a comprehensive suite of instruments and analyzers for precision measurements. Essential for industrial process control, these products ensure process safety, increase plant efficiency and reduce fuel use -- saving customers millions of dollars each year. The PST Group has a global presence with multiple locations in Europe, Asia and the Americas and looks for more opportunities to continue its growth through investment into new markets. www.processsensing.com
About Michell Instruments
Headquartered in Ely, United Kingdom Michell Instruments is a worldwide leader in the field of moisture and humidity measurement solutions. With over 40 years' experience, Michell designs and manufactures a wide range of transmitters, instruments and system solutions capable of measuring dew-point, humidity and oxygen in a vast range of applications and industries ranging from compressed air, power generation, process, oil and gas, pharmaceutical and many more. With a fast-growing subsidiary and distribution network, Michell Instruments provides solutions in moisture and humidity to the most demanding customers around the world. http://www.michell.com
Alicia Halatsis Michaud