KKR to buy testing and measuring instruments provider Industrial Physics from Union Park

• Dechert served as legal counsel to KKR
• When the deal closes, Industrial Physics plans to implement KKR’s broad-based employee ownership program
• Based in New York City, KKR was founded in 1976

KKR has agreed to acquire New Castle, Delaware-based Industrial Physics, a maker of testing and measurement instruments, from Union Park Capital. No financial terms were disclosed.

“Testing and measurement is an attractive market that is poised to continue growing as focus on product quality and supply chain transparency intensifies. We are thrilled to invest in Industrial Physics, a leader in this space, that has built an impressive portfolio of brands used by many of the world’s leading manufacturers,” said Brandon Brahm, a partner at KKR and co-head of KKR’s Ascendant strategy in a statement. “We look forward to working with the Industrial Physics team and helping the company reach new heights through organic growth and M&A.”

Following the close of the transaction, Industrial Physics plans to implement KKR’s broad-based employee ownership program, which will make all employees owners of the company alongside certain investment funds managed by KKR. Since 2011, KKR has awarded billions of dollars of total equity value to over 50,000 non-management employees across nearly 30 companies.

The transaction is expected to close in the third quarter of this year.

Dechert served as legal counsel to KKR.

Based in New York City, KKR was founded in 1976.