3i-backed Element to acquire Cascade TEK
Element Materials Technology (“Element”) today announces that it has entered into an agreement to purchase US Product Qualification Testing (“PQT”) provider, Cascade TEK, to further expand the technical capabilities and geographic reach within its Global Aerospace PQT Group.
The addition of Cascade TEK to this rapidly growing part of Element’s global testing platform significantly enhances and extends Element’s technical capabilities particularly in the RTCA/DO 160 and Mil-Std 810 environmental testing services arena. Critical capabilities include Acceleration Testing, HALT, Vibration and Shock Testing; Altitude Testing; Fluid Susceptibility exposures; Blowing Rain, Icing, Rapid Decompression, Salt Spray & Cyclic Corrosion Testing, Sand & Dust Testing (Blowing & Settling), Accelerated Weathering, Solar Radiation and Thermal Shock Testing. The acquisition will also expand the geographic reach of Element’s existing Aerospace PQT offering in the US.
This latest acquisition by Element follows on from the successful purchase and integration in 2015 of two other highly regarded Aerospace PQT companies; Environ Laboratories (USA) and TRaC Global (UK). Once the purchase is completed, Element will have a total of 15 laboratories dedicated to the provision of Product Qualification Testing services, making it one of the largest providers of Aerospace PQT services operating in the world today.
Charles Noall, President and CEO of Element, comments: “We are delighted to have reached agreement to purchase Cascade TEK. The wide range of tests required under RTCA/DO-160 that Cascade TEK provides will add significant capability and scale to our existing US PQT Group.
“The addition of Cascade TEK to the Element platform also further expands our footprint in the key North Western US Aerospace markets with the Cascade TEK laboratories in Oregon and Colorado in future working closely with the existing Element laboratory in Seattle.
Continuing to welcome more Engaged Experts, new capabilities and new locations into the Element fold will ensure that we are well positioned to reach our goal of becoming the world’s most trusted testing partner in the Aerospace sector and support the ambitions of our strategic clients.”
Terry Candlish, Chief Operating Officer of Cacsade TEK, adds: “We are extremely proud of the achievements of our team and the strong reputation we have built since our company was founded in 1992. We see joining forces with a true market leader as the natural next step for Cascade TEK, so we are very excited at becoming part of the Element Group.”
The purchase of Cascade TEK is expected to be completed by 1 November 2015.
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About 3i Group
3i is a leading international investment manager focused on mid-market private equity, infrastructure and debt management. 3i’s principal investment markets are northern Europe and North America. For further information, please visit: www.3i.com.
Element is a company with a global presence; its laboratories are staffed by experts specializing in materials testing, product qualification testing and failure analysis for the Aerospace, Oil & Gas and Transportation and Industrials sectors. Element’s team of more than 1,800 scientists, engineers and technicians work in 53 laboratories located throughout the U.S. and Europe. For a complete list of Accreditations & Approvals and more information, please visit www.element.com