Sample Preparation Technologies, which is backed by Battery Ventures, has agreed to acquire Quantifoil, a German maker of specialty support foils for electron-microscopy applications. No financial terms were disclosed.
BOSTON–(BUSINESS WIRE)–Battery Ventures, a global technology investment firm, has reached an agreement for its portfolio company Sample Preparation Technologies (SPT) to acquire Quantifoil Micro Tools GmbH (“Quantifoil”), a global manufacturer of specialty support foils for electron-microscopy applications. Quantifoil, which is based in Jena, Germany, will join Battery’s SPT platform and operate alongside UK-based TTP Labtech*, acquired by Battery in 2018. Terms of the Quantifoil transaction were not disclosed.
Founded in 1999, Quantifoil is a well-known provider of carbon- and gold-support foils to customers in the electron-microscopy field across commercial, academic and research markets. Customers include well-established life science companies, universities and research institutes.
In partnership with Battery and TTP Labtech, Quantifoil will continue its long-standing tradition of pursuing growth. As a member of the SPT platform, Quantifoil will have opportunities to leverage additional resources to support its future growth through technology development, expansion of production capabilities and an increased global market reach.
Quantifoil’s existing executive team will remain in place and will work closely with SPT Group CEO Patrick Bennett to manage the business. “Quantifoil’s expertise is nicely complementary to TTP Labtech and broadens SPT’s existing offering within the field of electron microscopy, specifically within the exciting area of cryo-electron microscopy, where TTP Labtech recently launched a complementary instrument platform,” said Bennett. “We are excited to welcome Quantifoil to the global SPT family.”
“We’re extremely excited to be joining the SPT group of companies and believe this partnership will provide Quantifoil with many valuable resources as we continue to grow and develop the business globally,” said Kay Pfennighaus, Quantifoil’s managing director. “We see many synergies in this partnership and are excited to work with SPT and Battery.”
Battery is continuing to expand its investment activity in the industrial-technology markets and has completed more than 50 industrial-related transactions across the U.S. and Europe since 2003.
Battery Ventures provides investment advisory services solely to privately offered funds. Battery Ventures neither solicits nor makes its services available to the public or other advisory clients. For more information about Battery Ventures’ potential financing capabilities for prospective portfolio companies, please refer to our website. *TTP Labtech is a Battery portfolio company. For a complete list of all portfolio companies, please click here.
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) and at www.battery.com, and find a full list of Battery investments here.
About Quantifoil Micro Tools GmbH
Quantifoil Micro Tools was founded in 1999 in Jena, Germany. The company manufactures and markets its proprietary Quantifoil support foils for electron microscopy. It supplies directly to end users at Universities and Research Institutes worldwide, as well as through an established network of distributors, and serve customers in over 30 countries today.