M&A Deal Summary

KKR Acquires Industrial Physics

On May 11, 2023, private equity firm KKR acquired test/measurement equipment company Industrial Physics from Union Park Capital

Acquisition Highlights
  • This is KKR’s 3rd transaction in the Test/Measurement Equipment sector.
  • This is KKR’s 191st transaction in the United States.
  • This is KKR’s 1st transaction in Delaware.

M&A Deal Summary
Date 2023-05-11
Target Industrial Physics
Sector Test/Measurement Equipment
Buyer(s) KKR
Sellers(s) Union Park Capital
Deal Type Secondary Buyout

Target

Industrial Physics

New Castle, Delaware, United States
Industrial Physics manufactures and markets testing instruments worldwide for measuring physical and analytical properties of a wide range of materials, products, and packaging types including plastics, metals, barrier films, paper, corrugated materials, foil, ink, coatings, cans, medical devices, paints, and surfaces. Industrial Physics was formed in 2014 and is based in New Castle, Delaware.

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Buyer(S) 1

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 510.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 454 of 483
Sector (Test/Measurement Equipment) 3 of 3
Type (Secondary Buyout) 95 of 107
State (Delaware) 1 of 1
Country (United States) 191 of 210
Year (2023) 7 of 18
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-02 CoolIT

Calgary, Alberta, Canada

CoolIT designs, engineers, and manufactures advanced liquid cooling solutions for the data center and desktop markets. CoolIT was founded in 2001 and is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-16 Envision Healthcare

Nashville, Tennessee, United States

Envision Healthcare is a provider of physician-led services and post-acute care, and ambulatory surgery services. Envision Healthcare was founded in 1992 and is based in Nashville, Tennessee.

Sell -

Seller(S) 1

SELLER

Union Park Capital

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2012
Size Middle-Market
Type Sector Focused
DESCRIPTION

Union Park Capital is a private equity firm focused exclusively on industrial technology companies. Target companies provide products and services that are utilized in technical, application specific industrial environments. Union Park will consider lower middle-market opportunities throughout North America and Europe, and generally looks for situations where it can commit $10 to $50 million per investment. Prospective transaction situations include family-held businesses, roll-overs of a portion of existing equity, acquisition financing, take-private transactions, management buyouts, recapitalizations, growth equity investments, and other businesses simply in need of successors. Union Park Capital was formed in 2012 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 1 of 2
Sector (Test/Measurement Equipment) 1 of 2
Type (Secondary Buyout) 1 of 2
State (Delaware) 1 of 1
Country (United States) 1 of 2
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 CFS Technologies

North Little Rock, Arkansas, United States

​CFS Technologies was formed to create a family of companies focused on dispensing equipment and cleaning solutions used in a wide variety of end markets. The high-quality connected products and data analytics software platform used in the most demanding and challenging environments, give companies increased visibility into their fluid dispensing operations, optimizing production and ensuring quality all while reducing costs. CFS Technologies was formed in 2021 and is based in North Little Rock, Arkansas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-18 Process Insights

Houston, Texas, United States

Process Insights focus on process monitoring, analytics, control, and safety applications around the globe. The company's premium brands are used across a wide range of applications and end markets to ensure safe operations, increase product quality, and attain increasingly higher levels of efficiency and throughput in process industries. Sensors, monitors, detectors, analyzers, instrumentation, and software used in these applications are mission-critical to continually improve quality, reduce disruptions, downtime, and lost productivity, all while managing increasing regulatory complexity and operating cost in industrial processes. Process Insights was formed in 2017 and is based in Houston, Texas.

Sell -
Mergr

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