M&A Deal Summary

Element Materials Technology Acquires NTS

On September 27, 2022, Element Materials Technology acquired business services company NTS from Aurora Capital Partners and Golub Capital

Acquisition Highlights
  • This is Element Materials Technology’s 7th transaction in the Business Services sector.
  • This is Element Materials Technology’s 21st transaction in the United States.
  • This is Element Materials Technology’s 4th transaction in California.

M&A Deal Summary

Date 2022-09-27
Target NTS
Sector Business Services
Buyer(s) Element Materials Technology
Sellers(s) Aurora Capital Partners
Golub Capital
Deal Type Add-on Acquisition

Target

NTS

Anaheim, California, United States
NTS is a provider of product qualification testing, inspection, and certification services in North America. NTS serves the full range of performance-critical industries, including the civil aviation, space, defense, nuclear, telecommunications, and medical end markets. NTS was founded in 1961 and is based in Anaheim, California.

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Buyer(S) 1

Buyer

Element Materials Technology

London, United Kingdom

Category Company
Founded 2011
Sector Test/Measurement Equipment
DESCRIPTION

Element Materials Technology is a provider of testing, inspection, and certification services for a diverse range of products, materials, and technologies in advanced industrial supply chains where failure in use is not an option. The company's scientists, engineers, and technologists, working in our global network of over 200 laboratories, support customers from early R&D, through complex regulatory approvals, and into production ensuring their products are safe and sustainable, and achieve market access. Element Materials Technology was formed in 2011 and is based in London.


DEAL STATS #
Overall 35 of 37
Sector (Business Services) 7 of 8
Type (Add-on Acquisition) 29 of 31
State (California) 4 of 4
Country (United States) 21 of 21
Year (2022) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-12 Singapore Test Services

Singapore, Singapore

Singapore Test Services is a provider of materials testing, chemical and environmental testing, calibration and certification. Singapore Test Services is based in Singapore.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-12 NCT

Hwaseong-si, South Korea

NCT provides comprehensive testing and certification services across battery and electrical safety, reliability testing and analysis, and wireless, for the mobility, consumer goods, medical device, and telecommunication markets. NCT was founded in 2010 and is based in Hwaseong-si, South Korea.

Buy -

Seller(S) 2

SELLER

Aurora Capital Partners

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1991
PE ASSETS 4.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Aurora Capital Partners is a private investment firm that manages private equity funds as well as investment vehicles focused on debt/equity securities. Targeted businesses are generally industry leaders that operate in defensible markets with sustainable margins. Sectors of interest include aerospace, industrial products, and services, packaging, plastics, distribution, manufacturing, media, retail, and chemicals. Aurora will only consider majority/control positions. Aurora's investment horizon is typically three to seven years. Aurora Capital Partners was formed in 1991 and is based in Los Angeles, California.


DEAL STATS #
Overall 22 of 23
Sector (Business Services) 2 of 2
Type (Add-on Acquisition) 7 of 7
State (California) 5 of 5
Country (United States) 21 of 22
Year (2022) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-18 VLS Environmental Solutions

Houston, Texas, United States

VLS Environmental Solutions is a provider of waste treatment and recycling, and interior railcar cleaning services. VLS Environmental Solutions also provides customized processing solutions for non-hazardous waste, including waste-to-energy and other landfill diversion programs, solidification of liquid waste, recycling, and wastewater treatment. VLS Environmental Solutions was founded in 2007 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-02 Universal Pure

Lincoln, Nebraska, United States

Universal Pure is a provider of outsourced high-pressure processing (HPP), cold storage and pre-HPP and post-HPP value-added services to help food and beverage companies safely bring longer-lasting, cleaner-label products to market. Universal Pure was founded in 2001 and is based in Lincoln, Nebraska.

Buy -
SELLER

Golub Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Lender
Founded 1994
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Golub Capital is a private investment firm focused on making debt and equity investments in US based middle-market companies. Golub looks to invest between $5 and $75 million in businesses with established operating cash flow, strong customer relationships, and 'sustainable proprietary positions in their markets'. Prospective investment structures include refinancings, recapitalizations, buyouts, and growth financings. Sectors of interest include consumer products, business and consumer services, defense, manufacturing, value-added distribution, media, healthcare services and restaurants. Golub Capital was formed in 1994 and maintains offices in New York City, Atlanta, and Chicago.


DEAL STATS #
Overall 32 of 41
Sector (Business Services) 1 of 3
Type (Add-on Acquisition) 14 of 19
State (California) 5 of 6
Country (United States) 32 of 39
Year (2022) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-04 MD Now Urgent Care

West Palm Beach, Florida, United States

MD Now Urgent Care offers a patient-friendly and differentiated healthcare alternative by providing high-quality, convenient, timely, and affordable medical treatment for non-life-threatening injuries and illnesses 8 am-8 pm, 365 days per year, annually serving hundreds of thousands of patients with exemplary satisfaction ratings. MD Now Urgent Care was founded in 2005 and is based in West Palm Beach, Florida.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-17 SloanLED

San Angelo, Texas, United States

SloanLED is a designer and manufacturer of LED lighting systems for use in sign, spa, and optoelectronic applications. SloanLED was founded in 1957 and is based in San Angelo, Texas.

Sell -