Canadian Firm to Operate Alongside Existing Process Sensing Technologies Companies Michell Instruments, Analytical Industries and Rotronic
BOSTON, SAN FRANCISCO and HERZLIYA, Israel, June 06, 2018 (GLOBE NEWSWIRE) -- Battery Ventures, a global technology investment firm, has reached an agreement for its platform in the process-measurement market, Process Sensing Technologies (PST), to acquire LDetek, a global manufacturer of gas chromatography instruments and online analyzers.
LDetek, which is based in Thetford Mines, Quebec, will join Battery’s existing portfolio of process-measurement and instrumentation companies. These include Analytical Industries Inc. and Michell Instruments, both acquired in 2016, and Rotronic AG, acquired in 2017. Terms of the LDetek transaction were not disclosed.
Founded in 2009, LDetek now has a significant global footprint and is a well-known provider of gas chromatography and online analyzer products. The company uses a proprietary plasma-emission detector (“PED”) technology to deliver highly sensitive measurement capabilities to customers in industries such as such as specialty / high purity gas, semiconductors, laboratories, and environmental monitoring.
The company was founded by Louis Paradis and Dany Gagne, both of whom will continue on as president and CTO, respectively. They will work closely with PST Group CEO Adam Markin to manage the business.
“LDetek’s focus on gas chromatography and analysis is extremely complementary to the other businesses in PST’s portfolio, and will enable PST to offer a complete solution in a number of key applications,” said Markin. “We are excited to welcome LDetek to the global PST family.”
“We’re very much looking forward to joining the PST group of companies and believe this partnership will provide LDetek with many valuable resources as we continue to grow and develop our business globally,” said Louis Paradis, LDetek’s president. Added Dany Gagne, CTO: “We see many synergies in this partnership and are excited to work with PST and Battery.”
About Battery
Battery strives to invest in category-defining businesses in markets including software and services, Web infrastructure 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, 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 LDetek
LDetek designs and manufactures gas chromatography solutions, including highly sensitive detectors; high-performance, patented, stand-alone gas chromatographic systems; compact online analyzers; and accessories for applications in industrial gas, semiconductor, environmental, energy, and food and beverage end markets. LDetek was founded in 2009 and operates from its headquarters in Thetford Mines, Quebec, Canada.
CONTACT:
Rebecca Buckman
Battery Ventures
becky@battery.com
650-703-0364