Element Materials Technology
Nature of business
Element is a global network of laboratories with experts specialising in materials testing, product qualification testing and failure analysis for the Aerospace, Oil and Gas and the Transportation and Industrial sectors. Their team of more than 1,500 scientists, engineers and technicians work in 43 facilities located throughout the U.S. and Europe.
We invested in Element in December 2010, acquiring a majority stake in the business. Under 3i’s ownership, Element has increased its international reach across Europe and the US, where it is the largest independent materials testing company. Since 2010, revenues have increased from approximately $100m to in excess of $250m. This expansion has been achieved by organic growth and by pursuing a build-and-buy strategy through which seven acquisitions across Europe and the US have been successfully completed.
Through our Business Leaders Network we also introduced Pete Regan, who was previously Chief Executive and Chairman of former 3i investment ERM, as Chairman , while Ad Verkuyten joined the board as NXD.
Regulatory notice: This transaction involved a recommendation of 3i Investments plc, advised by 3i Amsterdam.