M&A Deal Summary

Battery Ventures and AEA Investors Acquire PST

On January 1, 2017, private equity firms Battery Ventures and AEA Investors acquired test/measurement equipment company PST

Acquisition Highlights
  • This is Battery Ventures’ 9th and AEA Investors’ 1st transaction in the Test/Measurement Equipment sector.
  • This is Battery Ventures’ 8th and AEA Investors’ 4th transaction in the United Kingdom.

M&A Deal Summary

Date 2017-01-01
Target PST
Sector Test/Measurement Equipment
Buyer(s) Battery Ventures
AEA Investors
Deal Type Buyout (LBO, MBO, MBI)

Target

PST

Ely, United Kingdom
PST is a provider of 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. PST 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. PST is based in Ely, United Kingdom.

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Buyer(S) 2

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 67 of 116
Sector (Test/Measurement Equipment) 9 of 14
Type (Buyout (LBO, MBO, MBI)) 14 of 37
Country (United Kingdom) 8 of 13
Year (2017) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 Cross River Bank

Fort Lee, New Jersey, United States

Cross River Bank is a provider of API-based banking platform and comprehensive suite of products encompassing lending, payments, risk management and Banking-as-a-Service (BaaS) offerings to deliver responsible financial solutions that empower businesses and consumers anytime, anywhere. Cross River Bank was founded in 2008 and is based in Fort Lee, New Jersey.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-15 Concurrent Real-Time

Pompano Beach, Florida, United States

Concurrent Real-Time produces software and systems for applications or simulations serving industries such as aerospace, defense, automotive, energy and financial. Concurrent Real-Time is based in Pompano Beach, Florida.

Buy $35M
Buyer

AEA Investors

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1968
PE ASSETS 19.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

AEA Investors is a private investment firm focused on investing in and acquiring businesses headquartered primarily in the US, Europe, and China. AEA looks for companies operating in stable to growing industries with a proven ability to generate positive cash-flow. Broad sectors of interest include value-added industrial products/services, specialty chemicals, consumer products, and services. In addition to its primary middle-market private equity fund, AEA maintains additional funds targeted towards mezzanine financing, senior secured debt, and small business buyouts. AEA Investors was formed in 1968 and is based in New York City.


DEAL STATS #
Overall 76 of 118
Sector (Test/Measurement Equipment) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 25 of 38
Country (United Kingdom) 4 of 5
Year (2017) 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-30 TricorBraun

St. Louis, Missouri, United States

TricorBraun is a distributor of rigid packaging solutions including containers, closures and related components. TricorBraun was established in 1902 and is headquartered in St. Louis, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-02 Niacet

Niagara Falls, New York, United States

Niacet is a producer of specialty ingredients for food, feed, and pharmaceutical applications and the global leader in propionates and acetates. The Company’s propionates function as preservatives in baked goods and animal feed, while its acetates serve a wide variety of food and pharmaceutical applications. Niacet was established in 1978 and is based in Niagara Falls, New York.

Sell -