Vitrek LLC, which is backed by Branford Castle Partners, has acquired Albany, New York-based MTI Instruments Inc, a provider of jet engine balancing systems, signal generators and precision metrology devices. No financial terms were disclosed.
New York, April 14, 2022 – Branford Castle Partners announced today the acquisition of MTI Instruments, Inc. of Albany, New York, by Branford’s portfolio company, Vitrek, LLC.
The acquisition of MTI expands Vitrek’s line of electronic test and measurement products with the addition of MTI’s market-leading jet engine balancing systems, signal generators and precision metrology devices. The transaction also broadens Vitrek’s relationships with blue-chip aerospace, defense, semiconductor and renewable energy customers around the world.
With Branford’s help, Vitrek has completed three bolt-on acquisitions, significantly expanding its capabilities and more than tripling its revenues.
Vitrek’s CEO, Don Millstein, observed, “We’re excited to continue to build the Vitrek team and to add MTI’s great products to our offerings. We expect that our dedication to providing exceptional test and measurement equipment will deliver increasing value for our customers.”
Vitrek is a portfolio company of Branford’s 2016 Vintage Branford Castle Fund and is true to Branford’s philosophy of buying businesses in defensible niche markets. It is also helping them to thrive by providing focused resources that achieve both organic and acquisition-related growth.
As noted by David Castle, Branford’s Managing Partner, “It has been exciting working with Don and the Vitrek team to find great bolt-ons like DynamicSignals, with its esteemed Gage and Signatec product lines, and now MTI Instruments. The core Vitrek business has significantly expanded organically under Don’s leadership, and MTI will further augment its suite of products and services.”
About Branford Castle Partners
Branford is a private market investor with a 35-year history of helping to grow businesses. The firm typically makes control investments in companies with up to $15 million of EBITDA and a leadership position in a niche industry. Branford is particularly keen on the strong relationships it builds with its portfolio company managers. Branford has specific expertise in industrials/specialty manufacturing, consumer products and services, commercial distribution, business services and logistics.