Process Sensing Technologies, which is backed by Battery Ventures, has agreed to acquire Dynament and Status Scientific Controls, two manufacturers of infrared gas detection sensors and instruments. No financial terms were disclosed.
BOSTON–(BUSINESS WIRE)–Battery Ventures, a global technology investment firm, has reached an agreement for its platform in the process-measurement market, Process Sensing Technologies (PST), to acquire Dynament and Status Scientific Controls (SSCL), two global manufacturers of infrared gas detection sensors and instruments.
Dynament and SSCL, sister companies which are both based in Mansfield, England, will join Battery’s existing portfolio* of process-measurement and instrumentation companies. These include Analytical Industries and Michell Instruments, both acquired in 2016; Rotronic, acquired in 2017; and LDetek, acquired in 2018. Terms of the Dynament and SSCL transaction were not disclosed.
Dynament has a significant global customer base and is a high-profile provider of miniature, infrared gas sensors to large original-equipment manufacturers (OEMs) across the global gas-detection and monitoring industry. The company’s products enable highly sensitive detection and measurement of toxic and combustible gases such as carbon dioxide, methane, propane and nitrous oxide for customers in industrial markets, including oil and gas, chemical, and environmental monitoring.
Status Scientific Controls manufactures fixed-gas detection instruments, both flame-proof and intrinsically safe, along with a comprehensive range of associated control panels.
The companies’ founder, William Baxter, will continue to be involved in the businesses as chairman. Dynament’s and SSCL’s existing executive teams will remain in place and will work closely with PST group’s CEO Adam Markin to manage the businesses. “Dynament’s expertise in infrared gas sensing technology is highly complementary to the other businesses in PST’s portfolio, and will broaden PST’s existing sensor-technology portfolio,” said Markin. “We are excited to welcome Dynament and SSCL to the global PST family.”
“We’re extremely excited to be joining the PST group of companies and believe this partnership will provide Dynament and Status Scientific Controls with many valuable resources as we continue to grow and develop the businesses globally,” added Baxter. “We see many synergies in this partnership and are pleased to be working with PST and Battery.”
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, London, Israel and New York. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list* of Battery’s portfolio companies here.