Benford Capital Partners LLC has acquired Boulder, Colorado-based Droplet Measurement Technologies, a maker of scientific cloud and aerosol particle measurement instruments. No financial terms were disclosed.
Boulder, CO — December 15, 2016. Benford Capital Partners, LLC (“Benford Capital”) today announced the acquisition of Droplet Measurement Technologies (“DMT”). Founded in 1987 and based in Boulder, CO, DMT is a leading manufacturer of scientific cloud and aerosol particle measurement instruments. Chief Executive Officer Bob McAllister and the existing team will continue to lead DMT.
DMT designs, engineers and manufactures highly accurate and market leading test and measurement instruments for three primary end market applications (1) cloud, water and ice particle research, (2) black carbon measurement and atmospheric research and (3) airborne bio-aerosol measurement. The company’s global customer base includes leading academic research institutions, government entities and aerospace and defense companies.
Bob McAllister, CEO of DMT, commented, “DMT was looking for an experienced investor and advisor to smaller companies to help facilitate our ownership transition and position the Company for long-term growth and success. Benford Capital’s focus on niche market leaders and, specifically, its successful track record in the test and measurement industry made them an ideal fit for us.”
“DMT exhibits many of the characteristics we look for in industrial technology companies: a niche market leadership position, unique and highly engineered products and terrific engineering and sales teams,” said Ed Benford, Managing Director of Benford Capital Partners.
DMT (www.dropletmeasurement.com) represents Benford Capital’s fourteenth control investment. Benford Capital currently has nine platform companies, and is actively seeking add-ons in the following areas: test and measurement instruments and services, food and food ingredients, gas detection, B-2-B direct marketers of products and supplies.
Founded in 2004, Benford Capital is a Chicago-based private investment firm focused on control investments in lower middle market companies with $1-$5 million of EBITDA. Benford Capital seeks to build businesses over longer time periods (5-10+ years) in partnership with management. www.benfordcapital.com.