Industrial Scientific Corporation announced today that it has completed the sale of its Oldham fixed-point gas detection business to Industrial Safety Technologies (IST). The sale encompasses Oldham headquarters’ operations in Arras, France along with fixed systems support operations in China, Germany, India and the United States and will be the fifth acquisition for IST since its inception in 2011. The Oldham sale agreement was announced in July 2013.
Adam Markin, President of Industrial Safety Technologies, said that “Oldham offers IST a great global presence and market share including production capabilities in France and China that complement IST’s existing locations and other group companies. We are excited about completing this acquisition and look forward to a successful future for the business.”
The Oldham brand will remain intact and will operate as an independent company within the IST Platform. IST’s mission is to create a full line of integrated technology-based detection products and services. Oldham joins other leading brands in the IST family, which together create a comprehensive portfolio of detection products with global reach:
- Simtronics(based in Norway and France, acquired March 2013): sophisticated gas and flame detection) for use in applications ranging from plant boiler rooms to offshore petrochemical facilities.
- DSA Detection(headquartered in Massachusetts, acquired October 2012): consumables for leading brands of explosives and narcotics trace detectors (ETD).
- Detcon(headquartered in Texas, acquired September 2011): gas detection sensors and control systems, with strength in fixed products for the oil and gas market.
- Gas Measurement Instruments (GMI)(headquartered in Scotland, acquired August 2011): gas detection with a particular strength in portable products for gas distribution, oil and gas, and shipping markets.
Raptor Partners LLC acted as financial advisor to Industrial Scientific in the transaction.
About Industrial Scientific Corporation
Industrial Scientific Corporation is the world’s leading provider of Gas Detection as a Service and is dedicated to ending death on the job in this century. Achieving this goal requires dedication to delivering highest quality and best customer service in all transactions. Industrial Scientific also focuses on providing analysis of data from equipment use and maintenance to identify problems before they happen. Industrial Scientific has operations based in Pittsburgh (USA), Arras (France), Dortmund (Germany) and Shanghai (China). The company provides technical services to customers from local service centers around the world, and has additional offices in Australia, Belgium, Brazil, Canada, Chinese Taipei, Czech Republic, India, Indonesia, Italy, Netherlands, Panama, Poland, Qatar, Russia, Singapore, Thailand, United Arab Emirates and the United Kingdom. Industrial Scientific is the parent company to Predictive Solutions Corporation (www.predictivesolutions.com). For more information, visit www.indsci.com.
About Oldham
For more than 100 years, Oldham has specialized in safety, gas and fire detection. Oldham is headquartered in Arras, France, employs hundreds of people globally and has operations in France, the United States, China and Germany. Oldham’s mission is to be the best provider of fixed-point gas detection systems worldwide. It offers a wide range of application-driven products, expert advice, and the highest performance, quality and reliability in all transactions. For more information, visit www.oldhamgas.com.
About Battery Ventures
Since 1983, Battery has been investing in category-defining ideas and high potential companies and management teams worldwide. The firm views its investment as a true partnership, and works hard to help its companies carve out unique positions, dominate markets and reach business goals. Battery funds companies in technology and related markets at the Seed, Early, Growth and Buyout stage. For a full list of Battery’s companies go to: http://www.battery.com/our-companies/list/
The firm has raised more than $4.5B since inception. It is currently investing BV X and BV X Side Fund, totaling $900M of capital. For more information, visit www.battery.comand follow @BatteryVentures.
