M&A Deal Summary

KKR Acquires Industrial Physics

On May 11, 2023, private equity firm KKR acquired test/measurement equipment company Industrial Physics from Union Park Capital

Acquisition Highlights
  • This is KKR’s 3rd transaction in the Test/Measurement Equipment sector.
  • This is KKR’s 180th transaction in the United States.
  • This is KKR’s 1st transaction in Delaware.

M&A Deal Summary

Date 2023-05-11
Target Industrial Physics
Sector Test/Measurement Equipment
Buyer(s) KKR
Sellers(s) Union Park Capital
Deal Type Secondary Buyout

Target

Industrial Physics

New Castle, Delaware, United States
website
Industrial Physics manufacture and markets testing instruments worldwide for measuring physical and analytical properties of a wide range of materials, products, and packaging types including plastics, metals, barrier films, paper, corrugated materials, foil, ink, coatings, cans, medical devices, paints, and surfaces. Industrial Physics was formed in 2014 and is based in New Castle, Delaware.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 417 of 426
Sector (Test/Measurement Equipment) 3 of 3
Type (Secondary Buyout) 97 of 100
State (Delaware) 1 of 1
Country (United States) 180 of 187
Year (2023) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-02 CoolIT

Calgary, Alberta, Canada

CoolIT designs, engineers, and manufactures advanced liquid cooling solutions for the data center and desktop markets. CoolIT was founded in 2001 and is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-05 CIRCOR

Burlington, Massachusetts, United States

CIRCOR is a designer, manufacturer, and marketer of highly engineered products and sub-systems used in the energy, aerospace and industrial markets. CIRCOR was established in 1999 and is headquartered in Burlington, Massachusetts.

Buy $1.6B

Seller(S) 1

DESCRIPTION

Union Park Capital is a private equity firm focused exclusively on industrial technology companies. Target companies provide products and services that are utilized in technical, application specific industrial environments. Union Park will consider lower middle-market opportunities throughout North America and Europe, and generally looks for situations where it can commit $10 to $50 million per investment. Prospective transaction situations include family-held businesses, roll-overs of a portion of existing equity, acquisition financing, take-private transactions, management buyouts, recapitalizations, growth equity investments, and other businesses simply in need of successors. Union Park Capital was formed in 2012 and is headquartered in Boston, Massachusetts.


DEAL STATS #
Overall 1 of 1
Sector (Test/Measurement Equipment) 1 of 1
Type (Secondary Buyout) 1 of 1
State (Delaware) 1 of 1
Country (United States) 1 of 1
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 CFS Technologies

North Little Rock, Arkansas, United States

​CFS Technologies was formed to create a family of companies focused on dispensing equipment and cleaning solutions used in a wide variety of end markets. The high-quality connected products and data analytics software platform used in the most demanding and challenging environments, give companies increased visibility into their fluid dispensing operations, optimizing production and ensuring quality all while reducing costs. CFS Technologies was formed in 2021 and is based in North Little Rock, Arkansas.

Buy -