Process Sensing Technologies, a portfolio company of Battery Ventures, has agreed to acquire LDetek, a manufacturer of gas chromatography instruments and online analyzers.
LDetek designs and manufactures gas chromatography products including detectors, gas chromatographic systems, online analyzers, and other accessories. The company’s products are used in the industrial gas, semiconductor, environmental, energy, and food and beverage end markets. LDetek is headquartered south of Quebec City in Thetford Mines, QC (www.ldetek.com).
LDetek was founded in 2009 by Louis Paradis and Dany Gagne, both of whom will continue on as President and CTO, respectively. “We’re very much looking forward to joining the PST group of companies and believe this partnership will provide LDetek with many valuable resources as we continue to grow and develop our business globally,” said Mr. Paradis.
Process Sensing Technologies (PST) manufactures instruments and analyzers that are used in a range of applications. The company’s products include hygrometers and dew-point transmitters; relative humidity probes and transmitters; moisture and hydrocarbon dew-point analyzers; and oxygen and binary gas analyzers. PST is led by CEO Adam Markin (www.processsensing.com).
“LDetek’s focus on gas chromatography and analysis is extremely complementary to the other businesses in PST’s portfolio, and will enable PST to offer a complete solution in a number of key applications,” said Mr. Markin.
Earlier add-on acquisitions of PST were Pomona, CA-based Analytical Industries, a manufacturer of electrochemical oxygen sensors and gas-analysis products, in March 2017; Switzerland-based Rotronic, a developer and manufacturer of humidity- and temperature-measurement instruments and systems, in July 2017; and Ely, UK-based Michell Instruments, a designer and manufacturer of sensors and instrumentation used to measure analyze humidity, moisture, and oxygen, in October 2016.
PST has multiple locations in Europe, Asia and the Americas and is actively looking for opportunities to both expand its product lines and enter new geographies through acquisition.
Battery invests in seed, early, growth and buyout opportunities in technology and related markets. Sectors of specific interest include software and services, web infrastructure, e-commerce, digital media and industrial technologies. The firm was founded in 1983 and is based in Boston with additional offices in San Francisco, Silicon Valley, Israel, London and New York (www.battery.com).
© 2018 Private Equity Professional | June 8, 2018