Benford Capital Partners has acquired Droplet Measurement Technologies, a designer and maker of aerosol and cloud measurements systems.
Droplet Measurement Technologies (DMT) designs, engineers and manufactures test and measurement instruments used in cloud, water and ice particle research; black carbon measurement and atmospheric research; and airborne bio-aerosol measurement. DMT’s customers include major aircraft manufacturers such as Boeing, and Bombardier, as well as government agencies, universities, and research organizations. The company’s staff consists of more than 40 scientists, engineers, technicians, and consultants. DMT, led by CEO Robert McAllister, was founded in 1987 by Darrel Baumgardner (Chief Scientist), Bill Dawson and Craig Walter and is based northeast of Boulder in Longmont, CO (www.dropletmeasurement.com).
Benford Capital makes control investments in smaller, lower middle market companies that have revenues of at least $3 million and EBITDAs of at least $1 million. Sectors of interest include niche manufacturers, unique service companies, and specialty distributors. The buy of DMT represents Benford’s fourteenth control investment. The firm currently has nine platform companies, and is actively seeking add-ons in the following areas: test and measurement instruments and services; gas detection; food and food ingredients; and B2B direct marketers of products and supplies.
Benford was founded in 2004 by Edward Benford and is based in Chicago (www.benfordcapital.com).
© 2017 Private Equity Professional | January 19, 2017
