Element Materials Technology
Nature of Business
Element Materials Technology (formerly Stork Materials Technology) is a global network of testing laboratories with experts specialising in materials and production qualification testing and failure analysis for the Aerospace & Defence, Oil & Gas, Power Generation and Transportation sectors. Element’s customers are served by over 1,000 engineers and scientists located throughout the US and Europe.
We completed the €150m primary buyout through a carve-out from Stork Group in December 2010. We have been working actively with Element on operational excellence, supporting the carve-out from Stork Group and other successful commercial improvements.
We have introduced a number of key executives including Ad Verkuyten as NXD and Pete Regan as Chairman. Ad's track record as former CEO of testing and inspection group, Röntgen Technische Dienst, made him the ideal partner in a highly technical sector. He has worked alongside us on other 3i testing and inspection investments including Inspecta and Inspicio. Pete Regan is the former CEO and Chairman of ERM, the global environmental consulting firm, which was formerly owned by 3i.
We are also supporting Element’s management team in its continued buy-and-build strategy to consolidate the highly fragmented US and European materials and product testing industries. 3i's global network provides Element with additional resources to support strategic acquisitions and international expansion.
In 2012 our in-house banking team advised on the $93.25m increase in banking facilities to support this buy-and-build programme. Element has completed five recent acquisitions: Sherry Laboratories, Delsen, Mar-Test and DTL in the US, and MERL in the UK.
Regulatory notice: This transaction involved a recommendation of 3i Investments plc, advised by 3i Amsterdam.
3i office contact
400 Madison Avenue
New York, NY 10017
Tel: +1 (212) 848 1400
Fax: +1 (212) 848 1401