M&A Deal Summary

Element Materials Technology Acquires Avomeen

On February 3, 2021, Element Materials Technology acquired test/measurement equipment company Avomeen from High Street Capital

Acquisition Highlights
  • This is Element Materials Technology’s 11th transaction in the Test/Measurement Equipment sector.
  • This is Element Materials Technology’s 14th transaction in the United States.
  • This is Element Materials Technology’s 2nd transaction in Michigan.

M&A Deal Summary
Date 2021-02-03
Target Avomeen
Sector Test/Measurement Equipment
Buyer(s) Element Materials Technology
Sellers(s) High Street Capital
Deal Type Add-on Acquisition

Target

Avomeen

Ann Arbor, Michigan, United States
Avomeen LLC is a full-service chemical testing laboratory with unique product testing and formulation development expertise. The Company specializes in deformation analysis (reverse engineering), research and development support, stability testing, litigation support services, failure analysis, and pharmaceutical analysis and testing. Avomeen was founded in 2010 and is based in Ann Arbor, Michigan.

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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 23 of 38
Sector (Test/Measurement Equipment) 11 of 17
Type (Add-on Acquisition) 18 of 31
State (Michigan) 2 of 4
Country (United States) 14 of 22
Year (2021) 1 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-27 Analytical Lab Group

Eagan, Minnesota, United States

Analytical Lab Group is an independent provider of materials and product qualification testing, inspection and certification services to the global Aerospace; Transportation & Industrials; Energy; and Fire & Building Products sectors. Analytical Lab Group was formed in 2006 and is based in Eagan, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-29 KDK

Wiesloch, Germany

KDK is a calibration and measurement services provider with an extensive range of services that extends from calibrations in the areas of length measurement technology, mechanics, electrical engineering, temperature, and optics to initial sample tests and innovative online test equipment monitoring. KDK was founded in 1994 and is based in Wiesloch, Germany.

Buy -

Seller(S) 1

SELLER

High Street Capital

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1997
PE ASSETS 165M USD
Size Small
Type Sector Agnostic
DESCRIPTION

High Street Capital is a private investment firm focused on acquiring lower middle-market businesses generating revenues $10-$100 million with an EBITDA up to $15 million. The Firm typically invests in recapitalizations, management buyouts and growth equity financings. Target sectors include business services, aerospace/defense, healthcare product manufacturers and suppliers, testing and analytical services, chemicals and coatings, specialty plastics, and test/measurement equipment manufacturers. High Street looks to commit $2 to $8 million of equity per transaction and will consider both control and non-control situations. High Street will not invest in retail businesses, restaurants, oil and gas, entertainment, commodities, turnarounds, or start-ups. High Street Capital was formed in 1997 and is based in Chicago, Illinois.

DEAL STATS #
Overall 12 of 14
Sector (Test/Measurement Equipment) 1 of 1
Type (Add-on Acquisition) 5 of 6
State (Michigan) 3 of 3
Country (United States) 12 of 14
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-12 Applied Process

Livonia, Michigan, United States

Applied Process, Inc. is a specialty heat treating company focused on austempering, an isothermal heat treatment which creates superior properties on ferrous metal parts: less distortion, higher strength, higher toughness, better wear resistance, lighter components, and lower overall cost.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-12 Southern Design Concrete

Cumming, Georgia, United States

Southern Design Concrete is a provider of concrete and landscaping services to a list of top homebuilders across the Atlanta metro area. It has cultivated a reputation for superior quality and service combined with a diverse suite of packages. Southern Design Concrete was founded in 2017 and is based in Cumming, Georgia.

Buy -
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