KKR, a global investment firm, announced the signing of a definitive agreement under which investment funds managed by KKR will acquire Industrial Physics, a leading manufacturer of testing and measurement instruments, from Union Park Capital (UPC).
KKR plans to support the Company in its continued growth organically and through add-on acquisitions. Financial terms were not disclosed.
Headquartered in New Castle, Delaware, Industrial Physics is a trusted global provider of highly technical testing and inspection equipment used by thousands of customers across food and beverage, packaging and other diversified markets. Industrial Physics’ leading products are used to test, measure, inspect and validate the quality of products and samples, ensuring that they are made to specification and are safe for end users, the statement said.
“Testing and measurement is an attractive market that is poised to continue growing as focus on product quality and supply chain transparency intensifies. We are thrilled to invest in Industrial Physics, a leader in this space, that has built an impressive portfolio of brands used by many of the world’s leading manufacturers,” said Brandon Brahm, Partner at KKR and Co-Head of KKR’s Ascendant strategy. “We look forward to working with the Industrial Physics team and helping the company reach new heights through organic growth and M&A.”
“At Industrial Physics, we are excited to work with KKR as we enter this new phase of our growth. KKR supports our employee-first culture and shares our vision for building a scaled testing and measurement platform that continually invests in growth and innovation to even better serve the needs of customers around the world,” said Jim Neville, CEO of Industrial Physics.
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