M&A Deal Summary

Battery Ventures Acquires SPT Labtech

On September 27, 2018, private equity firm Battery Ventures acquired test/measurement equipment company SPT Labtech from TTP Group

Acquisition Highlights
  • This is Battery Ventures’ 10th transaction in the Test/Measurement Equipment sector.
  • This is Battery Ventures’ 9th transaction in the United Kingdom.
Investment Fate
  • SPT Labtech was sold to a consortium of financial buyers in 2022 for 650M GBP.

M&A Deal Summary

Date 2018-09-27
Target SPT Labtech
Sector Test/Measurement Equipment
Buyer(s) Battery Ventures
Sellers(s) TTP Group
Deal Type Divestiture

Target

SPT Labtech

Melbourn, United Kingdom
SPT Labtech is a manufacturer of liquid-handling instrumentation and sample- storage systems for sample-preparation and sample-management applications. The company’s products are used for process control and to optimize workflow efficiency across a variety of tasks in the pharmaceutical, biotechnology and academic-research markets. SPT Labtech was founded in 2001 and is based in Melbourn, United Kingdom.

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Buyer(S) 1

Buyer

Battery Ventures

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Battery Ventures is a private investment firm focused on opportunities in the technology and related-sectors. Battery will invest at all company stages, from seed and early-stage capital situations to leveraged buyouts, PIPEs, spin outs, rollups and take-privates of established companies. Battery's private equity group focuses on investments in companies with revenue of $5 to $200 million and EBITDA up to $25 million. Battery can commit up to $100 million in equity per transaction. Specific areas of interest include software; IT services and outsourcing; communications components, systems, and services; and financial services and tech-enabled businesses. Battery will consider investments throughout North America, Europe, and Asia. Battery Ventures was formed in 1983 and is headquartered in Menlo Park, California.


DEAL STATS #
Overall 78 of 118
Sector: Test/Measurement Equipment M&A 10 of 14
Type: Divestiture M&A Deals 5 of 6
Country: United Kingdom M&A 9 of 14
Year: 2018 M&A 6 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-04 OpsGenie

Boston, Massachusetts, United Kingdom

OpsGenie is an incident management platform for operating always-on services, empowering Dev & Ops teams to plan for service disruptions and stay in control during incidents. OpsGenie was founded in 2012 and is based in Boston, Massachusetts.

Sell $295M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-23 SigmaTEK Systems

Cincinnati, Ohio, United States

SigmaTEK Systems develops and sells SigmaNEST, a comprehensive software solution for nesting, NC programming and cutting of sheet metal, steel and aluminum plate, tube/pipe, composite and engineered materials and wood. SigmaNEST is the leading CAD/CAM nesting system for plasma, laser, punch, oxyfuel, waterjet, router, knife, tube/pipe and combination cutting machines. SigmaNEST ensures superior material utilization, machine motion optimization and maximum part quality balanced with cutting speed, work flow integration, material handling, accurate estimates and information management. SigmaTEK Systems was founded in 1993 and is based in Cincinnati, Ohio.

Buy -

Seller(S) 1

SELLER

TTP Group

Hertfordshire, United Kingdom

Category Company
Founded 1987
Sector Information Technology
DESCRIPTION

TTP Group plc is a technology and development company. TTP Group plc was established in 1987 and is headquartered in Hertfordshire, England.


DEAL STATS #
Overall 2 of 3
Sector: Test/Measurement Equipment M&A 1 of 1
Type: Divestiture M&A Deals 2 of 3
Country: United Kingdom M&A 2 of 3
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-05 Meteor Inkjet

Cambridge, United Kingdom

Meteor Inkjet Ltd. is a supplier of industrial inkjet printhead driving solutions. Working closely with all major industrial inkjet printhead manufacturers, Meteor supplies production-ready electronics and software to printer OEMs and print system integrators world-wide. Meteor Inkjet was founded in 2006 and is based in Cambridge, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-02 Cellular Highways

Melbourn, United Kingdom

Cellular Highways is a biotechnology company that specializes in advanced cell sorting technologies with applications in cell and gene therapy, drug discovery, and general cell research, especially where cells are fragile. Cellular Highways is based in Melbourn, United Kingdom.

Sell -