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AEA Acquires Process Sensing Technologies
New York – December 1, 2020– AEA Investors’ (“AEA” or the “Firm”) Middle Market Private Equity team announced today that its fund has closed the acquisition of Process Sensing Technologies (“PST” or the “Company”). PST is a leading provider of moisture, oxygen and trace gas measurement solutions for process critical applications. The company provides sensors, transmitters and systems that address a diverse range of applications across a variety of end markets, including life sciences, general light industry, natural gas, building automation, food & beverage, and others. PST’s products drive process quality and efficiency improvements and are becoming increasingly valuable due to stricter health, safety and environmental regulations. Solutions are mission critical and supported by replacement demand, with the company effectively differentiating through strong engineering capabilities, deep application knowledge and technology expertise. The company’s above market growth has also been supported by a strong track record of new product development, which continues to be a tool to scale its core expertise while extending reach into new applications. AEA has a successful history of investing in the industrial technology space. The investment in PST represents an opportunity to partner with an experienced management team in an industry benefiting from long term secular growth, underpinned by greater penetration of sensing technology in industrial processes.
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors (“Participants”) and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 90 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have over $15 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors: value added industrials, consumer and services.
PST provides a comprehensive suite of instruments and analyzers for precision measurement and monitoring in a variety of critical industries. Solutions are aimed at improving customers’ profitability, while helping them stay compliant with often-stringent industry regulations. PST was formed in 2016 and 2017 through the combination of two high quality brands, Michell and Rotronic, and further scaled through five additional acquisitions from 2017 to 2019. The company is headquartered in Ely, UK with facilities in Europe, USA and Canada with approximately 650 employees globally.
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