M&A Deal Summary

Dwyer Acquires PST

On November 21, 2024, Dwyer acquired test/measurement equipment company PST from Battery Ventures and AEA Investors

Acquisition Highlights
  • This is Dwyer’s 3rd transaction in the Test/Measurement Equipment sector.
  • This is Dwyer’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2024-11-21
Target PST
Sector Test/Measurement Equipment
Buyer(s) Dwyer
Sellers(s) Battery Ventures
AEA Investors
Deal Type Add-on Acquisition

Target

PST

Ely, United Kingdom
PST is a provider of measurement instrumentation and monitoring solutions for process-critical applications worldwide. With 12 leading brands, PST offers a comprehensive suite of proprietary sensors, instruments, analyzers, and monitoring solutions with sensing capabilities across parameters, including moisture, gas, level, and flow. PST was founded in 1964 and is based in Ely, Cambridgeshire.

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Buyer(S) 1

Buyer

Dwyer

Michigan, Indiana, United States
Category Company
Founded 1931
Sector Test/Measurement Equipment
DESCRIPTION

Dwyer designs and manufactures sensors and instrumentation solutions for the process automation, HVAC, and building automation markets. Dwyer was founded in 1931 and is based in Michigan, Indiana.

DEAL STATS #
Overall 5 of 5
Sector (Test/Measurement Equipment) 3 of 3
Type (Add-on Acquisition) 4 of 4
Country (United Kingdom) 1 of 1
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-05 Miljoco

Mt Clemens, Michigan, United States

Miljoco is a designer, manufacturer, and distributor of a broad range of temperature and pressure measurement instruments utilized in critical life and safety, food safety, commercial indoor environmental quality (IEQ), and industrial applications. The company's proprietary automated production and near-zero tolerance for failure have resulted in a well-earned reputation for quality, highly customizable products. Miljoco was formed in 1979 and is based in Mt Clemens, Michigan.

Buy -

Seller(S) 2

SELLER

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 64 of 64
Sector (Test/Measurement Equipment) 6 of 6
Type (Add-on Acquisition) 34 of 34
Country (United Kingdom) 8 of 8
Year (2024) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-31 PageUp

Melbourne, Australia

PageUp is a manufacturer of cloud based, enterprise talent management software. Its tools and services empower organizations to optimize their human resources investment processes, enhance workforce performance, and deliver a personalized experience to candidates and employees. PageUp was established in 1997 and is based in Melbourne, Australia.

Sell -
SELLER

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 79 of 79
Sector (Test/Measurement Equipment) 2 of 2
Type (Add-on Acquisition) 26 of 26
Country (United Kingdom) 3 of 3
Year (2024) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-15 Nations Roof

Mobile, Alabama, United States

Nations Roof is a provider of commercial roofing services that operate out of 30+ locations and has completed re-roofing and service and repair projects in 49 states in the past year. Nations focus on providing best-in-class customer service to local and national real estate owners across all types of commercial properties. Nations Roof is based in Mobile, Alabama.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-05 Huge

Brooklyn, New York, United States

Huge is an independent interactive agency that takes clients beyond online marketing campaigns to the creation of sustainable online businesses. Huge was founded in 1999 and is based in Brooklyn, New York.

Buy -
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