Tekscan, the Virginia-based manufacturer of flexible, ultra-thin sensors and systems, announced it has been acquired by Artemis Capital Partners, a Boston-based private equity firm focused exclusively on partnering with differentiated industrial technology companies.
Founded in 1987, Tekscan has been at the forefront in the research and development of ultra-thin force and pressure sensing technology to create differentiated products or improve clinical and research outcomes.
“From the first day we met the Company, many years ago, we saw a business with exceptional technology that was poised for strategic growth. Tekscan’s customer and employee-first approach are the trademarks of an Artemis business and we are thrilled to be partners in growth with Tekscan,” said Peter A. Hunter, Managing Director at Artemis and new Board member at Tekscan.
For the last 20 years, Tekscan’s President, Steve Jacobs, with Vice President and new Interim President, Charlie Malacaria, grew Tekscan into a company with a large product portfolio and a global network of channel partners. “The partnership with Artemis is the next chapter in a healthy and growing legacy for Tekscan,” said Jacobs.
“We believe that we have found the perfect home for Tekscan to embark on the next phase of growth and we could not be more excited about the outcome,” continued Jacobs. “Tekscan employees, channel partners, and customers are in great hands with a bright future ahead.”
Olly Forrer, Investment Team member at Artemis and new Board member at Tekscan said, “Tekscan’s technology and capabilities speak for themselves and we are honored to partner with the team to drive strategic growth. Over the past 30 years, Tekscan has been the leader in the tactile force and pressure sensing markets and we will continue to innovate and serve our customers’ needs.”
Malacaria added, “We find that Artemis’ strategic vision for growth and innovation share many of the same principles we value at Tekscan. Artemis has an established track record for supporting businesses similar to ours, and we are confident this partnership will provide a strong foundation to carry Tekscan into a new era with exceptional products and service for our customers.”
Under Artemis’s ownership, Tekscan will continue to operate as an independent company from its headquarters in Boston, MA. EC Mergers and Acquisitions acted as the sole advisor to Tekscan, Inc.
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