SK Capital Partners Acquires Physical Properties Testers (“PPT”) Group Limited From Battery Ventures

Funds advised by SK Capital Partners, LP (“SK Capital”), a private investment firm focused on the specialty materials, ingredients, and life sciences sectors, completed the acquisition of Physical Properties Testers Group (“PPT Group”, “PPT”, or the “Company”) from Battery Ventures (“Battery”).

PPT Group, headquartered in Halifax, United Kingdom, is a global leader in physical property test and measurement solutions. Built through strategic acquisitions, PPT specializes in the design, production, and service of testing instruments that ensure the physical integrity and quality of raw materials, components and finished products. Through its four core brands – James Heal, Mecmesin, Alluris, and Lansmont – the Company offers an extensive portfolio of testing solutions focused on torque, tensile strength, abrasion & piling, compression and adhesion properties. From the laboratory to the production line, customers utilize PPT’s products to meet stringent quality and regulatory requirements for high cost of failure applications. The Company maintains a blue-chip, global customer base across the aerospace and defense, medical & pharma, electronics, transportation, textiles, and engineered materials end markets. PPT Group employs more than 280 individuals and operates manufacturing and sales offices in the UK, Europe, North America, and Asia.

“We are honored to welcome PPT into the SK Capital family and deepen our industrial technology presence,” said Mario Toukan, Managing Director of SK Capital. “Battery and the PPT management team have thoughtfully acquired and integrated several first-class businesses, creating a differentiated product portfolio and an industry-leading reputation. PPT’s focus on material properties testing aligns well with SK Capital’s specialty materials focus, making it a natural fit in our portfolio. We look forward to unlocking new growth opportunities and leveraging SK Capital’s deep expertise in the sectors the Company currently serves.”

Booey Ghani, Vice President at SK Capital, added, “PPT has built a tremendous business with industry-wide recognition for its high-quality instruments and exceptional aftermarket service. We are thrilled to partner with the Company and its management team and look forward to building on PPT’s market leadership in materials testing by growing the core and adding additional brands to the portfolio through strategic M&A.”

As part of the acquisition, Jim Neville, former CEO of Industrial Physics, will join as Global CEO. Neil Pryke will continue to lead the UK, European, and Chinese operations as Managing Director of PPT Group.

“I am excited to join PPT and partner with Neil and the entire team at this pivotal juncture,” said Mr. Neville. “We see enormous potential to enhance our product offerings through organic initiatives and M&A focused on complementary, differentiated material-testing products and services. Together, we are well-positioned to build on PPT Group’s unique legacy and accelerate our growth trajectory.”

Goodwin Procter LLP acted as legal counsel to SK Capital. EC M&A served as the financial advisor to SK Capital. Debt financing was provided by Bain Capital’s Private Credit Group.

About SK Capital:

SK Capital is a private investment firm with a disciplined focus on the specialty materials, ingredients, and life sciences sectors. The Firm seeks to build resilient, sustainable, and growing businesses that create substantial long-term value. SK Capital aims to utilize its industry, operating, and investment experience to identify opportunities to transform businesses into higher performing organizations with improved strategic positioning, growth, and profitability, as well as lower operating risk. SK Capital’s portfolio of businesses generates revenues of approximately $12 billion annually, employs more than 25,000 people globally, and operates more than 200 plants in over 30 countries. The Firm currently has approximately $9 billion in assets under management. For more information, please visit www.skcapitalpartners.com.

About Physical Properties Testers Group Limited:

PPT Group is a family of industry-leading brands that provide cutting edge properties testing and measurement instruments. With its deep technical expertise and customer service, PPT Group’s high-quality products are trusted by leading brands, manufacturers, retailers, and laboratories worldwide for physical property assessment in mission-critical quality assurance and research & development. Headquartered in Halifax, United Kingdom, PPT Group offers an extensive portfolio of torque, tensile strength, abrasion & piling, compression, and adhesion testing instruments to a large, blue-chip customer base. For more information, visit www.pptgroup.com/.

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